Fund Manager Focus: OMAM's Stewart Cowley

FUND MANAGER FOCUS

Old Mutual Asset Managers' Stewart Cowley has run the group's £568m Global Strategic Bond fund since joining the company from Newton Investment Management in June 2009.

Over the three years to 13 January the fund has returned 31.8% versus an IMA Global Bond sector average of 21.2%. Over one year it has returned 4.6% against a sector average of 4.1%. Head of fixed income Cowley made a number of significant calls in 2011, particularly on the US treasury market, in what was a tumultuous year for government bonds. Moving short US treasuries in January, he lengthened duration on G7 bonds again during the summer but has since moved the fund’s portfolio back to a neutral duration. How do you see the situation in government bond markets now? Do you have a...