Managers veer away from cyclicals

radar alert: SG Sterling corporate bond

Since its launch three years ago, the SocGen Sterling Corporate Bond fund has kept a consistent yield by avoiding sectors such as media and industrials

Three years after launch, SocGen Sterling Corporate Bond has beaten its peer group but not by sufficient a margin to make it a must-have fund for investors. The vehicle, which launched on 21 April 2001, now has assets of some £8.1m. Over the 36 months to 3 May 2004 is ranked 30 out of 68 in the IMA UK Corporate Bond sector, returning 14.84% against 14.62%, bid to bid for the peer group. But if the total returns from the fund are better than average rather than outstanding, the vehicle has managed to maintain its running yield in a period notable mainly for falling interest rates. At lau...