UK Corporate Bond funds suffer downfall

All but two UK Corporate Bond funds have lost money over the three months to 10 April, based on S&P ...

All but two UK Corporate Bond funds have lost money over the three months to 10 April, based on S&P figures, with managers pointing to changes in gilt yields as behind the underperformance. Overall, the credit sector has produced an average return of -1.7% bid to bid over the past three months. Of the two funds in the sector that have made money over the period, New Star's Sterling Bond offering, managed by Phil Roantree, has returned 0.4% growth while the PMIS MultiManager Income fund boasts 0.6%. However, the PMIS fund only had 55% of its holdings in UK fixed interest at the end of J...