We have published a new Morningstar Qualitative Rating and Research Report for Old Mutual Dynamic Bond.
"This fund underperformed substantially during the credit crunch, losing over 42% in calendar year 2008, partly due to an early financials bet. The previous manager and former team head Andrew Tunks left the firm on the back of the poor performance here and across the firm’s fixed income offerings. Stewart Cowley joined Old Mutual in June 2009, and he immediately took over both this offering and the Old Mutual Global Strategic Bond fund. Cowley heads up the team and his experience in running global bonds and teams dates back to 1995; most notable was his time at BNY Mellon from 2000-08, where he was in charge of Newton International Bond and BNY Mellon Global Bond, delivering strong outperformance on both funds. We think his arrival at the team at Old Mutual strengthens it considerably. It’s a small team, but we hold it in high regard. Cowley has brought some broad macro expertise to the table and equity and bond managers alike are sharing views more frequently as he has encouraged a regular flow of information among them. . . ."
The full four page pdf report can be accessed here. It is free to users of Morningstar.co.uk.
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