SWIP's Carver: My best trades of Q4

The SWIP Absolute Return Bond fund received a significant boost in Q4 from exposure to the European periphery, such as Italy and Spain.

Fund manager James Carver said buying Italian inflation-linked bonds at the end of June was the best trade he made for the fund in the second half. Carver bought into Italy in the expectation the European Central Bank “would not want to see the end of Europe”, as president Mario Draghi vowed to “do whatever it takes” to save the single currency. Carver closed this position completely last week in the view the huge rally in peripheral debt means there is little value left in the asset class. Apart from this, the manager anticipates some risks in Italy with the upcoming election at t...