Quilter Investors has launched the Quilter Investors Global Government Bond fund for its managed portfolio service (MPS), set to be run by PIMCO.
The new mandate will be led by Andrew Balls, CIO of global fixed income at PIMCO, with support from senior portfolio managers and analysts. It has been added to the Quilter team’s managed portfolio range as part of an ad-hoc rebalance, through reducing the exposure to the existing passively-managed government bond holding, the team explained.
Stuart Clark, portfolio manager of Quilter’s WealthSelect MPS, said: “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.”
As part of this rebalance, Clark and his team also opted to take profits from the equity allocation, following a recent rally in equity markets and topped up laggard positions in the precious metals allocation.
Simon Hillenbrand, head of UK global wealth management at PIMCO, said they were “delighted” to continue their partnership with the Quilter team.
“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,” he concluded.
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