TCW appointed sub-advisor for Columbia Management fund
The TCW Group, a global asset management firm, has been appointed by Columbia Management to sub-advise on a fund within the Columbia Funds Variable Series Trust II.
TCW will manage the TCW Core Plus Bond Fund, a fixed income fund with approximately USD1.3bn in assets as of 31 December 2013.
The TCW Core Plus Bond Fund was previously known as the PIMCO Mortgage-Backed Securities Fund. Initially launched in 2010, the fund had invested significantly in highly-rated mortgage instruments and seeks to provide shareholders with total return through both income and capital appreciation.
Within its mutual fund families, TCW manages several Morningstar five star-rated bond funds, including the MetWest Total Return Bond Fund and the TCW Total Return Bond Fund. Over the past three years, the MetWest Total Return Bond Fund outperformed 95 per cent of its peers, and the TCW Total Return Bond Fund outperformed 98 per cent of its peers.
David Lippman, chief executive officer of TCW, says: “We are pleased to continue to expand our partnership with Columbia Management and look forward to putting our industry-recognised expertise in fixed income to work for the benefit of investors in the TCW Core Plus Bond Fund.”
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