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Four global bond managers making their mark

Who is holding their head high during tough times for fixed income? Citywire Investment Research finds out.

Market overview

In July a total of 173 rated managers have received the three are AAA rated, 27 AA, 53 A and 90 Citywire are + rated within the Bonds – Global asset class. This asset class includes following Citywire sectors breakdown:

  • Bonds – Global
  • Bonds - Global Australian Dollar Hedged
  • Bonds - Global Flexible
  • Bonds - Global Short Term

Highest New Entrant

Fund Manager: Tracy Chen, Legg Mason

Rating: AA-rated

Overview

Entering the Citywire ratings on her debut is Tracy Chen of Legg Mason, who has received a Citywire AA rating for her risk-adjusted performance on the Legg Mason Brandywine Global Cr Opps LM Acc USD, which she co-manages with Gary Herbert, Brian Kloss and Regina Borromeo. She is recognised here as she has just reached eligibility for a rating.

The fund's objective is to increase total return through a high level of income and capital. It has a flexible investment approach to global debt securities. Over the three years to the end of June 2017, Chen and her colleagues returned 10.72% in the sector, compared with a loss of 4.69% by the average manager in US dollar terms.

Comeback Star

Fund Manager: Victor Verberk, Robeco

Rating: A-rated

Overview

Robeco's Victor Verberk returns to the Citywire ratings this month having last been rated back in January 2015. His comeback owes to his three-year risk adjusted performance on the Robeco Global Credits CH EUR fund. He has been a lead manager of this since June 2014 and uses a fundamental investment approach.

The fund invest two thirds of its assets in non- government fixed income securities from all around the world. Over the three years to the end of June 2017, Verberk returned 12.45% in US dollar terms, while the average manager in the sector lost -4.69%.

One to Watch

Fund Manager: Mark Kiesel, Pimco

Rating: AAA-rated

Overview

Having been first time rated by Citywire in 2012, Mark Kiesel of Pimco has received his fifth AAA rating in a row this month. He has overseen the firm's $19 billion Global Investment Grade Credit fund since it's inception in September 2014.

The fund mainly invests in corporate issuers with a debt rating of BBB- or greater by at least one of the nationally recognised credit rating agencies. During the three-year analysis period, Kiesel returned 10.12% in US dollar terms which outperformed the 3.20% return of the average manager in the global bonds sector over the same timeframe.

Rising Star

Fund Manager: Bruno Crastes, H2O AM

Rating: AAA-rated

Overview

H2O Asset Management's Bruno Crastes has risen from his AA rating to retain a Citywire AAA rating this month. Crastes is lead manager on the H2O Multibonds R Cap fund, which he has run since its inception in August 2010.

Crastes has consistently outperformed the average manager in the sector and has returned 50.04% in US dollar terms over the previous three years, compared with a loss of 1.15% by the average manager over the same period in the global flexible bonds sector.

Related Fund Managers

Tracy Chen
Tracy Chen
143/396 in Bonds - US Dollar (Performance over 1 year) Average Total Return: 3.86%
Victor Verberk
Victor Verberk
11/408 in Bonds - Global (Performance over 3 years) Average Total Return: 12.43%
Mark Kiesel
Mark Kiesel
105/408 in Bonds - Global (Performance over 3 years) Average Total Return: 4.13%
Bruno Crastes
Bruno Crastes
83/408 in Bonds - Global (Performance over 3 years) Average Total Return: 5.10%
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