Henderson drops Cowley’s Global Strategic Bond

Mr Cowley’s fund has lost 7.9 per cent in the year to May 16 according to data from FE Analytics, and was also last week removed from Charles Stanley Direct’s Foundation Fundlist.

The Old Mutual manager has bet that US government bond yields would rise, but this call has hurt performance. The strength of sterling has also hit returns.

The Henderson team has started a new position in the Absolute Insight Emerging Market Debt fund.

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