Rathbone

Bond managers have been slashing exposure to contingent convertible debt - a key source of alpha for fixed income funds in recent months - as yields begin to fall and an avalanche of issuance appears on the horizon.

FIXED INCOME

David Coombs, head of multi-asset at Rathbone Unit Trust Management, is cutting out all passive equity exposure across his fund range and buying concentrated, high conviction portfolios in an effort to add alpha.

THE BIG QUESTION

Bryn Jones and David Coombs have bought into emerging market debt in the Rathbones Strategic Bond fund for the first time in 12 months after spreads widened significantly during the recent sell-off.

THE BIG QUESTION

ON UK INCOME

COMMENT

THE BIQ QUESTION

Multi-asset managers are finding renewed opportunities in UK government bonds as they try to eke out value for their portfolios at the start of 2014.