21st April 2015 - Stewart Cowley, manager of the Old Mutual Global Strategic Bond fund, has announced that he will be retiring from fund management. He will relinquish management of the fund on 1st May 2015, and leave the company at the end of June.
He will be handing the fund to Christine Johnson, who currently manages the Old Mutual Corporate Bond fund, and John Peta, an emerging market bond specialist, who joined the company last year from Threadneedle Investments. They will co-manage the fund.
With the change in management, will come a more team-based approach to the investment process and, given the skills of the new managers, a slightly new mandate for the fund, allowing it more exposure to different types of bond. Old Mutual believe that the government bond market will be faced with a number of years of increased volatility and lower returns and, as such, exposure to other types of bonds, including corporates and emerging markets, will be beneficial.
The fund retains it's Chelsea generic 'hold' rating. The Chelsea risk rating will be reviewed.