GLG Total Return BondGLG Total Return Bond
This investment fund features as part of the absolute portfolio. The GLG Total Return Bond is designed to optimise capital escalation and income, regardless of market conditions.
Two expectional fund managers, Lorenzo Gallenga and Gareth Isaac, manage this fund.
Lorenzo Gallenga graduated from University College London with a BSc in Psychology, having studied both there and for one year at Harvard University, Massachusetts. He joined Société Générale Asset Management in 2005 from Lombard Odier Darier Hentsch (based in London) where he was Global Fixed Income Fund Manager. Prior to that, he worked for 7 years with Newton Investment Management (London) as Associate Director of Investment Management, Fixed Interest. In 2009 SGAM UK was acquired by GLG where he continues in the same role.
Gareth Isaac graduated from University of Glamorgan with a BSc (Honours) in Business Decision Analysis. He joined Société Générale Asset Management in 2007 from AXA Investment Managers, where he managed a range of UK, European and global bond mandates, including the Framlington Gilt Fund. Prior to that he spent 6 years with Newton Investment Management as a fixed income fund manager. Gareth is a CFA Charterholder. In 2009 SGAM UK was acquired by GLG where he continues in the same role.
GLG Partners has established itself as one of the largest independent asset managers in the world. The company offers a diverse range of investment products, with the aim of achieving superior returns using a variety of asset classes and alterative investments.
Why we like this investment and what we expect
The idea behind the absolute portfolio is to offer a low risk investment that has low correlation to equity markets and is able to produce returns greater than offered in a high street savings account. The GLG Total Return Bond was selected due to its seemingly inverse relationship to the Absolute Return sector average. Since its inception, in periods when the absolute return sector was declining, the GLG Total Return Bond was performing at its best and vice versa. By having a fund of this nature in the portfolio, it helps to stabiles any decline in equity markets by adding value in downward trends.
The GLG Total Return Bond’s unique structure is designed to optimise capital escalation and income regardless of market conditions. The fund is broken up into two funds; the main fund and the sub fund. The main fund operates like a normal global bond fund and chooses a variety of fixed interest bonds from around the world with the aim of generating a steady return. However, the sub-fund, in essence, acts a global bond hedge fund, with the ability to access more exotic financial instruments, such as fixed interest securities, index-linked securities, and money market instruments. The sub-fund uses a multi strategic approach to exploit potential profits from across the globe. This makes it possible for the fund to profit from rising and falling markets.
We expect the fund to produce steady and consistent returns and out-perform cash on deposit.
The underlying fund charges 0.9%. Sterling's charge is in addition.
Fund Prospectus (PDF)
