Specialist fixed interest boutique Omega Global Investors has picked up a mandate from Ibbotson Associates as the implemented consultant redirects some of its global bonds into international corporate debt.
Brad Bugg, Ibbotson’s head of fixed interest and currency, said yesterday that global corporate bonds presented better opportunities than sovereign bonds at the moment because credit spreads remained near historic averages, while bond yields were also at historic lows.
The new mandate, for an unspecified amount, takes Omega’s total funds under management to about $400 million. The firm was launched in 2008 by a group of former Vangard Investments specialists, led by managing director, George Vassos.
Vassos said that the firm was benefiting from the disaggregation of the fixed income market, as super funds looked to separate their sovereign debt exposure from other forms of fixed interest.
The firm has also recently picked up mandates from Medibank and Telstra Super.
Apart from local and international fixed interest, Omega also provides asset allocation and portfolio construction services on a tailored basis.