Allianz Strategic Bond dumps corporate bond exposure on valuation concerns

Corporate bond less than 1% today

Mike Sheen
clock • 2 min read
Mike Riddell of Allianz
Image:

Mike Riddell of Allianz

The £3.1bn Allianz Strategic Bond fund has been selling riskier assets in response to valuation concerns, with the top performer effectively dumping all of its corporate bonds in favour of sovereign bonds.

Mike Riddell, lead manager of the fund, which won the £ Strategic Bond category at the Investment Week Fund Manager of the Year Awards 2021, said developed market corporate bonds are currently "particularly...

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