Allianz Strategic Bond fund assets soar as Jupiter MM invests

Jupiter Merlin Balanced Portfolio holds fund

The Allianz Strategic Bond fund has grown by over 500% since the fund launched in June 2016 under Mike Riddell's management (it was previously run by PIMCO as the Sterling Total Return fund) and is set to reach £500m in assets under management in the coming weeks as multi-managers such as Jupiter's John Chatfeild-Roberts buy into the fund.

When Riddell was handed the relaunched Strategic Bond fund it had £70m in assets under management; it has since attracted a steady stream of inflows, Riddell said, and was the only "true" strategic bond fund to see positive returns in 2018, according to Allianz GI (the fund returned 2.7% last year). "The fund is £450m now and is set to get bigger in the next few weeks," Riddell said. "There is between £20m and £30m in the pipeline; it should be half a billion in the next month. Jupiter started buying into the fund in May." According to the latest Jupiter Merlin Balanced Portfolio fact...