Doran: The trades powering my fund to top of bond sector

Exposure to financials has been the key performance driver for Kevin Doran's IFDS Brown Shipley Sterling Bond fund, which has gained the top spot in the IMA £ Corporate Bond sector this year.

Exposure to financials has been the key performance driver for Kevin Doran’s IFDS Brown Shipley Sterling Bond fund, which has gained the top spot in the IMA £ Corporate Bond sector this year. Hybrid bonds in banks make up the top three holdings in the fund – BNP Paribas, Coventry Building Society, and Nationwide at 5.58%, 5.26% and 3.46% – and Standard Chartered is also part of the portfolio.  “The transition from Basel II to Basel III makes hybrid bonds at these banks attractive,” he said.  “Under the old rules, they counted as equity capital, but now banks are incentivised to cal...