Wealth manager Quilter has launched the Quilter Investors Global Government Bond fund, appointing investment manager Pimco to manage the mandate.
The fund has already introduced into Quilter’s WealthSelect Managed Portfolio Service portfolios through an ad hoc rebalance. The allocation was partly funded through a reduction in passively managed government bond exposure.
Quilter said the move would increase the portfolios’ overall allocation to actively managed global government bonds. The mandate will be managed by Andrew Balls alongside a team of senior portfolio managers and analysts. Quilter said the strategy would draw on Pimco’s global macroeconomic and fixed income research platform.
The rebalance also included changes to equity allocations following a rally in markets during April and early May.
Portfolio managers Stuart Clark, portfolio manager of Quilter’s WealthSelect MPS, Helen Bradshaw and Bethan Dixon took profits from equity holdings and increased exposure to lagging positions, including precious metals allocations.
Clark said: “Following the recent rally in equity markets, we felt it was sensible to take some profit and rebalance the portfolios by increasing our exposure to actively managed fixed income. Concurrently, the launch of the Quilter Investors Global Government Bond fund comes at a good time and our already strong partnership with PIMCO has strengthened the fixed income line up within WealthSelect.
Andrew and his team bring a wealth of expertise, and we believe Pimco’s investment philosophy, which emphasises a long-term, secular outlook, helping to avoid reactive decisions driven by short-term market sentiment, is an ideal fit for our managed portfolios.”
Simon Hillenbrand, head of UK global wealth management at Pimco, said: “Active management in fixed income is particularly important in the current environment, and we look forward to contributing to the WealthSelect Managed Portfolio Service and supporting Quilter’s objectives for clients.”
