Brewin hands bond portfolio to hedge manager

Brewin outsources Income vehicle to LNG Capital, seeking to introduce hedge fund techniques to bond portfolio as it seeks a wider audience

Brewin Dolphin has subjected its £23m Income vehicle to an overhaul, outsourcing the mandate to hedge fund group LNG Capital to improve performance. Manager Louis Gargour has made significant changes to asset allocation on the bond portfolio, turning over 12% of holdings. He reduced the fund's weighting to homebuilders and banks and increased positions in gaming firms, chemicals and oil services. The group is currently looking for a wider audience for the private client offering. It handed the mandate to LNG as Brewin wanted to bring hedge fund techniques into use. "It has become ...