Alliance Trust to launch bond fund

ALLIANCE Trust Asset Management is to enter the fixed-income market next month with the launch of a global corporate bond fund, the Dundee-based firm announced yesterday.

The fund will be run by the bond team poached from Scottish Widows Investment Partnership (Swip) last August, headed by Rod Davidson. It will be the fourth fund launch since the Alliance Trust Asset Management operation began in January.

Meanwhile, Swip yesterday appointed Andrew Tunks as investment director of fixed income.