Fund closures mark Neptune's exit from fixed income space

Neptune is exiting the fixed income space, with the closure of its Corporate Bond and International Bond funds, both run by Ted Alexander.

The group, which is widely known for its leading equity managers Robin Geffen and Rob Burnett, soft-launched the International Bond fund in December 2008 and the Corporate Bond fund in November 2009 with a view to building up their respective track records before marketing the funds.   Neptune’s house view is there is a bubble forming in the bond markets, which it believes will impact the future demand for bond funds. At the time of the Corporate Bond fund’s launch last year, deputy managing director Richard Green said the move was a long-term strategic decision and the group was n...