SWIP is planning a raft of new products to follow the establishment of its US fixed income base.
The group will first launch a US high yield fund for Kevin Matthews, the head of high yield at F&C, who joins SWIP in April and will be based in the New York office. He will be supported by two recently hired US analysts, reporting to Neil Murray, the group's global head of credit. Towards the end of the year SWIP will look to recruit new managers with a view to launching a US investment grade corporate bond fund. The products will be aimed at UK retail investors rather than the local US market. SWIP's UK-based fixed income portfolios will be able to diversify into US investment grade...
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