Causer and Read boost liquidity to exploit value opportunities

Invesco Perpetual bond duo Paul Causer and Paul Read have boosted liquidity in their £5.5bn Corporate Bond fund to take advantage of new value opportunities which have emerged after the recent bond sell-off.

Over the past two and a half months, the US treasury market has endured one of the heaviest sell-offs since the financial crisis. Yields on benchmark 10-year paper have spiked from 1.66% at the start of May to trade at 2.52% today, after the Federal Reserve announced it may begin tapering its monetary stimulus programme at the end of 2013. Causer and Read (pictured), along with Michael Matthews, who was appointed co-manager of the fund in March, have been running a lower average duration than peers in order to protect the fund on the downside. The managers have been running duratio...