Old Mutual Global Investors (OMGI) has announced it will bring its $26.5m (£21.4m) Old Mutual Investment Grade Corporate Bond fund in house next month.
The fund, previously managed by Rogge Global Partners, is the third that OMGI has resumed management of in the past 12 months.
Lloyd Harris, manager of the Old Mutual Corporate Bond fund, will assume management of the fund with support from OMGI’s head of credit Tim Baker from November 3 2016.
The fund’s objective will continue to focus on income and capital growth through a diversified portfolio of investment grade rated credit securities.
The portfolio has exposure to the global credit market, while the Corporate Bond fund primarily invests in corporate bonds issued in or hedged back to sterling.
Mr Harris said: “Now, more than at any other time, we believe it is crucial to get geographic credit allocation correct, as central banks around the world diverge in terms of monetary policy. Working with our colleagues from across the desk, Tim and I will aim to add value for clients by identifying the best investment grade corporate bonds to deliver long-term value.”
