Stevens ups credit weighting on Omam Strategic Bond

Richard Stevens has boosted the credit weighting on the Old Mutual Global Strategic Bond fund in his...

Richard Stevens has boosted the credit weighting on the Old Mutual Global Strategic Bond fund in his first weeks as manager in a bid to evolve performance. The manager has upped the fund's conviction by boosting the credit weighting 10%-15%, cutting government bond exposure and overweighting US dollars. "You are being paid to take risk in credit at the moment," he said. "The market has been forced to clear, there has been huge forced liquidation of assts and we are in a transition stage where all these assets are being repriced. There are great opportunities in credit." Ex L&G manag...