GLG Global Corporate Bond Fund awarded S&P ‘A’ rating
London, 06 December 2010 – GLG, a wholly owned subsidiary of Man Group (“Man”), is pleased to announce that the GLG Global Corporate Bond Fund has been awarded an ‘A’ rating by Standard & Poor’s.
Managed by Christophe Akel and Galia Velimukhametova, the fund – which aims to achieve an above-average total return (interest income and capital appreciation) through investing in investment grade bonds – has returned 30.97% since 30 June 2009 against an average sector return of 19.68%. The fund is currently yielding 5.39% and ranks in the top quartile of the S&P global fixed income sector.
The UK-domiciled fund changed its management team and remit (from international government bonds) in June 2009 following GLG’s acquisition of SGAM UK.
Richard Phillips, Head of UK Retail at Man, said: “The S&P rating is welcome recognition of the investment process and performance of the fund since its change in remit and represents another endorsement of GLG’s strong internal platform for worldwide corporate credit.”