M&G Investments’ Tomlins to outline FRN at Miami Summit
James Tomlins, fund manager at M&G Investments, will outline his views on central bank policies and the role of floating rate bonds when he takes part in the upcoming Funds Society Miami Summit 2017, which takes place in Miami 18-19 May.
With central bank policies shifting amid strengthening economic data there is a risk that high yield bond investors could be hit by rising interest rates. But M&G argues that ‘pockets’ of value continue to exist in the high yield market, despite spread compression over the past 12 months – a factor that benefitted high yield investors at the time.
Using floating rate notes is one way to overcome the risks associated with rising interest rates, and with the ability to invest in senior secured notes, a portfolio constructed around this type of security can also provide defensive properties, Tomlins will explain.
The M&G manager joined the firm in June 2011 and was appointed fund manager of the M&G European High Yield Bond Fund later that year. In January 2014, he became co-manager of the M&G Global High Yield Bond Fund after two years as deputy manager on the fund. Tomlins has also managed the M&G Global Floating Rate High Yield Fund since its launch in September 2014. He is a specialist in high yield credit with more than 10 years’ experience in this sector. He was previously an analyst and then a fund manager at Cazenove Capital Management. Before Cazenove, he was at KBC Alternative Investment Management; in the three years prior to that, he worked at Merrill Lynch Investment Managers. He is a CFA charterholder, and graduated with an MA in history and PgDip in economics from the University of Cambridge.