Thesis Optima Bond fund to up EM and mortgage debt holding

Thesis Asset Management's Michael Lally is planning to add emerging market and mortgage-backed debt to his £13.7m Optima Bond fund.

The co-manager plans to introduce holdings in specialist funds to give exposure to areas he would otherwise be unable to access because of the size of his fund. “I like the Monument Bond fund which invests in residential mortgage backed securities (RMBS). The fund invests in the top end of the market. The bonds are floating rate notes which means income will go up when rates rise, but the capital should not fall,” he says. “I am not focused on emerging market sovereign debt, but companies who could be based anywhere, whose earnings are largely based on emerging market economies.” ...