F&C MM team adds Templeton Global Total Return

F&C’s Multi Manager team has increased the overseas bond exposure in their £89m Cautious fund.

The team has taken a 3.8% position in the Templeton Global Total Return vehicle. They funded the purchase by trimming a number of existing absolute return holdings and reducing their position in Old Mutual's Global Strategic Bond fund, with the remainder coming from cash.

Fund manager Paul Carne says: "This move further increases our overseas bond exposure within the portfolio with the fund sitting alongside the likes of Old Mutual Global Strategic Bond, Fidelity US High Yield and PIMCO Global High Yield.

"This offering invests globally in government, supranational and corporate debt across all rating spectrums."