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Peter Doherty, Chief Investment Officer, Tideway GBP Hybrid Capital Fund in Tideway Live broadcast direct from the prestigious London Stock Exchange studios.
Award winning presenter Nadine Dereza conducts a TIDEWAY LIVE interview with Peter Doherty, investment manager of one of the UK’s top performing bond funds.
Peter Doherty, Managing Partner and CIO of Tideway Investment Partners LLP and responsible for one of the UK’s top performing strategic bond funds, in conversation with award winning financial journalist/presenter Nadine Dereza.
The live event was broadcast at 12:00 noon on Wednesday 29 November 2017.
Tideway Investment Partners LLP has three in-house funds under the Tideway UCITS Funds ICAV (Ireland) umbrella, of which the Tideway GBP Hybrid Capital Fund has delivered market-leading performance in the IA Sterling Strategic Bond sector, which currently holds 88 funds, for the past three years. (Tideway GBP Hybrid Capital Fund +12.81 % - Top 3 as at 1 September 2017. Source: Bloomberg and FE Analytics Independent Data)
As many bond funds struggle to deliver decent returns to investors, Tideway GBP Hybrid Capital has recorded exceptionally strong 12-month performance.In a climate of stubbornly low interest rates and a high inflation environment, the fund has performed extremely well under the guidance of investment manager Peter Doherty.
“Our Hybrid Capital Fund has delivered excellent returns without taking unnecessary interest rate risk nor by buying anything like the lowest rated credits available.
“There are no Single B or below rating bonds in the funds, which has a strict BB or higher credit rating restriction.
“The returns have come from two main sources, which can continue unabated in our view.
“Firstly, we do fundamental credit analysis in-house on unrated names and some of these have taken formal credit ratings during the year at which point they have done very well.
“One example is Just Group which was assigned an A+ rating from unrated in August.
“We see this as an area to capture value in the future. Secondly, we take a lot of time to pick the right bond once we have agreed to add a specific name to the portfolio. There are different ways to generate excess total returns from certain bonds and again this is an area where we see opportunities going forwards,” said Mr Doherty.
The fund offers an alternative source of income to equity markets and help investors get out of assets where real returns are currently negative, such as gilts.
“Also, the 30% CoCo limit in the Hybrid Capital fund provides investors with exposure to a specialist asset class that cannot be owned directly by retail investors. This is a major plus point – and with all £ corporate bond minimum denominations set at £100k or £ 200k, a bespoke bond portfolio is off-limits for all but the largest private client mandates and it virtually impossible to access the new issue bond market on an ad hoc basis,” he added.
The fund will appeal to investors with a low to medium appetite for risk but who would like to generate additional income from their investment portfolio.
For further information on the funds, Peter Doherty and Tideway please go to:
Wednesday 29 November 2017