Correct call on financials pays off for Lake

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Aviva manager's allocation to investment grade benefits high yield focused fund as it challenges industry big names.

Aviva Investors’ High Yield Bond fund has had a strong run of performance as it approaches its three-year anniversary. With Andrew Lake at the helm, the portfolio is giving established competitors such as Kames’ Philip Milburn and M&G’s Stefan Isaacs a run for their money. However, at £49m in size, the fund has so far failed to attract assets on the scale of peers, including M&G, whose offering has £1.1bn under management, or the £1.2bn SWIP High Yield Bond fund, run by Steven Logan. In terms of returns, since launch the fund has delivered 43% against a sector average of 25% accordin...