Bond funds make jump to amended IMA peer groups

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

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 has been souped up after unitholders voted for a shift to a high-yield mandate in April. Invesco's Paul Causer and Paul Read 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. Within the amended fixed income sectors, £ Corporate Bond houses fund...