fixed income

Invesco Perpetual's Paul Read and Paul Causer have cut almost 30 holdings from their £129m City Merchants High Yield trust as the managers look to reduce risk in the portfolio.

BlueBay chief executive Hugh Willis and CIO Mark Poole will each receive £81.9m for their 8.5% stakes in the company, which is set to be acquired by RBC.

Ian Winship has joined BlackRock as a senior portfolio manager on its sterling fundamental fixed income team.

SECTOR WATCH

Newton's Paul Brain is to run a new offshore global bond fund for BNY Mellon Asset Management based on his flagship onshore fixed income product.

Investment guru Jim Rogers warns stock markets could collapse if the global recovery fails to reignite and is urging investors to turn to commodities.

High yield or ‘junk' bonds have seen a surge of investor interest, pushing prices to the levels seen before the credit crunch.

FIXED INCOME

J.P. Morgan global CIO of fixed income Bob Michele believes the current environment for bond investors is the best in his 30-year career, as borrowers display an unprecedented commitment to repay debt.

Fund managers expect the Basel Committee's new rules on bank capital adequacy to have a major impact on financial sector debt and equity markets.