UK-based fund manager Collins Stewart has launched a retail bond fund that will use derivatives to short sell bonds. The fund has the stated aim of outperforming three-month sterling Libor by 2%. It will be Dublin-based and managed by Collins Stewart’s chief investment officer, Jim Goodey.
Goodey will be allowed to short sell up to 25% of the fund at any one time. A maximum of 30% may be invested in minimum A-rated corporate bonds, with the balance put into G10 sovereign issues. Half of the f
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