Kames Capital

THE BIQ QUESTION

The deterioration of liquidity in bond markets has continued apace over the past year, leaving fund managers at risk of becoming forced sellers of bonds if there is a full-scale rotation out of the sector.

Kames Capital has hired Scott Fleming as fund manager on its fixed income team to focus on exotic bond analysis.

Scott Jamieson, head of multi-asset investing at Kames Capital, is running his highest ever allocation to the US dollar in the view it could appreciate as much as 20%-25%.

Stephen Snowden of Kames Capital on why investors should be wary of retail bonds, risks from certain kinds of innovation in the bond industry and why equity managers are enjoying some bond-bashing.

Kames Capital is planning to launch an "aggressive" rates fund to prepare for an eventual increase in interest rates on government bonds.

Kames Capital has promoted Claire McGuckin to co-manager of the Kames High Yield Global Bond Fund to ease the burden on the existing team.

ETHICAL

The high yield bond market is set to "suffer a bout of indigestion", according to Phil Milburn, manager of the Kames High Yield Bond fund.

Kames Capital has bought into the record $17bn corporate bond issue unveiled by Apple yesterday, saying the deal "has to be a buy" - but other fund managers are not so sure.