Old Mutual bond funds upgraded by Standard & Poor’s

Old Mutual Asset Managers (UK) (‘OMAM’) announces that two of its retail fixed interest funds have been upgraded by Standard & Poor’s.

The Old Mutual Corporate Bond Fund has been upgraded from AA to AAA, while the previously unrated Old Mutual Dynamic Bond Fund is now rated AA.

The Old Mutual Corporate Bond Fund is managed by Stephen Snowden and is primarily invested in investment grade UK corporate credit, although it can also make use of sub-investment grade and non-rated debt. The Old Mutual Dynamic Bond Fund is managed by Andrew Tunks and Chris Higham and has a flexible remit, investing across a broad range of fixed interest securities, including high yield and investment grade credits, government bonds, floating rate notes and cash instruments, emphasising those areas expected to outperform at any given stage of the credit cycle.

Andrew Tunks, Head of Fixed Interest at OMAM and joint manager of the Old Mutual Dynamic Bond Fund, comments: “I’m delighted that the performance of both funds has been recognised and rewarded by Standard & Poor’s. The Old Mutual Corporate Bond Fund was rated AA for two years and it’s particularly pleasing that it has now achieved a AAA rating. This is also the first time that Chris Higham has managed a fund rated by Standard & Poor’s and the AA rating is thoroughly deserved.”

Matthew Nagele, Managing Director of Fund Distribution at OMAM, adds: “Fewer than 20% of funds have any Standard & Poor’s rating. To have all of our retail fixed interest funds rated is an exceptional achievement and is testament to the quality of the team and the performance that they have delivered. As well as having a AAA rating for the Old Mutual Corporate Bond Fund and a AA rating for the Old Mutual Dynamic Bond Fund, the Old Mutual International Bond & Convertible Fund also has a AA rating, adding up to a very strong offering across the range.”