Neuberger Berman has launched a global bond fund which is set to be overseen by four of its most experienced bond and currency managers, Citywire Selector can reveal.
The Neuberger Berman Global Opportunistic Bond fund is a Dublin-domiciled, Ucits-compliant fund and is designed to help broaden the US asset manager’s overall fixed income fund range.
This new approach will invest across a mix of fixed and floating-rate debt, covering a wide-range of sectors and across different market conditions. It is designed to operate without any biases or tilts.
Management of the fund will fall to Andrew Johnson, head of global investment grade fixed income, senior portfolio manager Jon Jonsson, Ugo Lancioni, who is head of currency management, and the firm’s head of rates, Thanos Bardas.
The quartet, who have an average industry experience of 22 years, will also receive additional support on the strategy from Neuberger Berman’s 129-strong global fixed income team.
Commenting on the launch, Jonsson, who co-runs the Neuberger Berman Global Bond Absolute Return fund with Johnson, said: ‘We anticipate periods of heightened volatility for world bond markets throughout 2017 so believe it will be a year where it will be necessary to alter strategy several times on changing policy and economic signals.’
Jonsson highlighted how the US market is expected to be particularly challenging given heightened inflation fears. He said the fund can respond through diversified spread exposure and tap the US consumer through non-agency RMBS.
This is as well as tapping into a mix of high yield and bank loans based on a belief in solid US growth, stronger corporate profits, and the likely pro-growth policy. Jonsson said similar dynamic approaches could be used in the European market.