Invesco Perpetual's Paul Causer and Paul Read have admitted banking exposure has hurt the performance of their £334m Tactical Bond fund, but are sticking with the positions.
After a year dominated by volatility in markets which hit equities for six, and left government bonds trading at record highs, Investment Week reveals the best and worst performing IMA sectors.
The world's largest bond fund, run by Bill Gross, has seen outflows of $17bn over the past year - a time when bond funds as an asset class have seen net inflows.
Legal & General Investment Management's top performing bond manager Richard Hodges is preparing his £1.8bn Dynamic Bond trust for more pain and heighted volatility to come next year.
Legg Mason Asset Management has unveiled its $34m Brandywine Global Opportunistic Fixed Income fund to the UK market.