MAM Funds' Martin Gray is eyeing developed market government bonds with a view to reinvesting in the asset class, after taking profits over the summer.
The manager of the £840m Miton Special Situations and £246m Strategic funds said he made “unbelievable gains” from his positions in government bonds when he cashed them out between early May and late June this year. At the time, gilts made up about 10% of the Special Situations portfolio. Gray (pictured) said the market is still volatile to macro level shocks, so he expects government bond yields could rise for a while before dropping back to historic lows as investors seek safety. “As risk-on liquidity hits markets, if this carries on for a bit longer, I would not be averse to moving...
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