IMA bond sector rejig: Causer and Read up risk on St James's Place fund

St James's Place's Corporate Bond has moved from UK Corporate Bond to the £ High Yield sector as part...

St James’s Place’s Corporate Bond has moved from UK Corporate Bond to the £ High Yield sector as part of the shift to amended fixed interest categories. The £214m fund is being souped-up after unitholders voted for a shift to a high yield mandate in April. Paul Causer and Paul Read at Invesco Perpetual were brought in to manage the higher-risk mandate. The IMA’s old UK Corporate Bond sector required an 80% investment-grade exposure but the fund is moving to the new high-yield peer group demanding 50% in sub-investment grade. The only other fund to make a similar move as part of the s...