UK investment firm Alliance Trust Investments has launched
its Dynamic Bond Fund. The fund offers a target return strategy, aiming to
deliver an annualised 6 per cent total return over rolling three-year periods.

The fund will be managed by Stuart Steven and Juan
Valenzuela, and is aimed predominantly at the institutional and discretionary
fund manager markets. It will source returns from a combination of asset
allocation, relative value strategies and, to a lesser extent, stock selection
decisions. Portfolio composition will vary significantly over the cycle, both
in terms of asset allocation within fixed income markets and the split between bonds
and derivative positions, the firm said.

In July this year, Alliance Trust Investments announced the
closure of three of its equity funds. This was followed, in August, by the
firm’s acquisition of the SRI investment business of Aviva Investors.

Alliance Trust Investments is a wholly-owned subsidiary of
UK-listed Alliance Trust.