Quilter launches Global Government Bond fund; PIMCO appointed to manage mandate

Quilter has announced the launch of its Quilter Investors Global Government Bond fund and appointed PIMCO to manage the new mandate.

The fund has been added to the Managed portfolios in Quilter’s WealthSelect managed portfolio service (MPS) as part of an ad hoc rebalance.

The new holding is partly being funded by a reduction in the passively managed government bond holding.

Therefore, overall exposure to actively managed global government bonds in the portfolios will increase, with the portfolio management team deeming this prudent due to the heightened levels of uncertainty.

The mandate will be managed by Andrew Balls alongside a team of senior portfolio managers and analysts.

Quilter said the strategy benefitted from global expertise, strong tenure, and access to PIMCO’s macro and fixed income research platform.

In the rebalance, portfolio managers, Stuart Clark, Helen Bradshaw and Bethan Dixon, decided to take profits from the equity allocation, and within equity topped up laggard positions such as its precious metals allocation, following a rally in equity markets in April and early May.

“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,” Quilter’s WealthSelect MPS portfolio manager, Stuart Clark, said.

“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.

PIMCO head of UK global wealth management, Simon Hillenbrand, added: “We are delighted to deepen our partnership with Quilter through the launch of their Quilter Investors Global Government Bond fund.

“Active management in fixed income is particularly important in the current environment, and we look forward to contributing to the WealthSelect MPS and supporting Quilter’s objectives for clients.”

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