BlackRock to launch Strategic Bond fund

BlackRock is launching a Strategic Bond fund in the first quarter of next year for corporate bond manager Daniel McKernan.

The vehicle will sit in the IMA £ Strategic Bond sector and will invest in a mix of high-yield debt, corporate bonds and gilts, with at least 80% of its assets in sterling-denominated – or hedged back to sterling – fixed interest securities. “This will be a go-anywhere fund,” says Tony Stenning, BlackRock’s MD. “It will invest in any transferable security, and will use derivatives to manage duration.” Stenning admits the group is late to the party with its latest offering but is confident there is still appetite for the sector over the long term. “The bond market has had a rally an...