TwentyFour Dynamic Bond

An unconstrained fixed income fund that invests in a broad range of bonds and fixed-income assets, managed by a team of industry veterans who were involved in the development of the fixed income markets over the last 25 years.

The TwentyFour Dynamic Bond is viewed as a ‘best-in-class’ strategy within Flexible/ Strategic Bonds based on the pedigree of the investment team and their expertise of the European credit markets which they have helped to shape over the past 25 years. The team is formed by former proprietary traders, sales traders and market makers at most of the large/ bulge bracket banks in Europe. They are able to invest across fixed income markets, with the managers tactically adjusting the portfolio across high yield, investment grade, government bonds, asset-backed securities and cash with an aim to ensure fixed income exposure is best positioned given the prevailing market conditions and outlook. The flexibility of this approach enables the managers of the Fund to quickly adjust the allocation within fixed income to take advantage of opportunities.

We like the team based approach used to manage this fund and the fact that the lead managers are pioneers of creating and investing in credit markets. It gives them a deeper understanding with detailed knowledge of the micro structure and macro forces that affect their markets. Each member of the team has their own specialisms which sees different investment ideas being brought to the fund.

Fund type UK OEIC
Asset class Bonds
Sector Flexible Bonds
Managed by Gary Kirk, Eoin Walsh, Felipe Villarroel et al.
Held in EQ PortfoliosBest Ideas Cautious
Best Ideas Balanced Plus
Best Ideas Cautious Plus
Absolute Return
Best Ideas Balanced
Best Ideas Defensive

Manager Profile

Gary is one of the founding partners of TwentyFour, and a Portfolio Manager. He sits on the firm’s Investment Committee, which sets the overall risk bias for the portfolios managed by the firm. Gary’s main responsibility is managing the firm’s Multi-Sector Bond team with funds including the Dynamic Bond Fund and Strategic Income Fund.

Gary has over 30 years of experience in fixed income markets gained across a variety of senior roles in asset management and investment banking, including leadership positions at Daiwa Capital, Royal Bank of Canada, CDC and Wachovia Bank.

Eoin is one of the founding partners of TwentyFour, and a Portfolio Manager. Eoin’s main responsibility is managing the firm’s Multi-Sector Bond team with funds including the Dynamic Bond Fund and Strategic Income Fund. He also sits on the firm’s Investment Committee.

Eoin has over 20 years of experience in fixed income markets and prior to joining TwentyFour was a portfolio manager at Citigroup Alternative Investments, managing over $75bn of fixed income assets.

Felipe joined TwentyFour in 2011 and is a Portfolio Manager in the Multi-Sector Bond team. Felipe’s main responsibility is managing funds including the Dynamic Bond Fund and Strategic Income Fund. He is also a member of the Investment Committee.

Prior to joining TwentyFour, Felipe worked as an Asset Allocation and Strategy Analyst at Celfin Capital in Chile, now part of the BTG Pactual group. There, Felipe took an active role in developing the team’s strategic view of the global macro economy and asset classes.

Felipe graduated from Pontificia Universidad Catolica de Chile with a Bachelor’s degree in Economics and Business Administration before obtaining a master’s in Finance from the London Business School. Felipe is also a CFA charterholder.

Mark is one of the founding partners of TwentyFour, and serves as the firm’s Chief Executive Officer. He sits on the firm’s Executive Committee, which has the overall responsibility for the day to day running of the firm, as well as the Board of Directors which sets the overall strategy and direction of the business.

Day to day, Mark is also a key member of the firm’s Multi-Sector Bond team which manages strategies including the Dynamic Bond Fund and Strategic Income Fund. He is a member of the firm’s Investment Committee.

Mark has 29 years of experience in fixed income markets gained across a variety of senior roles asset management and investment banking, including positions at Barclays Capital, Lehman Brothers and Morgan Stanley.

Pierre joined TwentyFour in April 2014 as a Portfolio Manager in the Multi-Sector Bond team. His main responsibility is managing the business line’s funds including the Dynamic Bond Fund and Strategic Income Fund. Pierre also manages the FX hedging and daily funding for a number of funds and managed accounts. Pierre has over 7 years of experience in fixed income and previously worked in WestLB’s credit trading and special situations divisions.

Pierre graduated in Mathematics & Economics from University College London.

David joined TwentyFour in September 2018. Based in the New York office, he serves as the Head of US Credit as well as one of the portfolio managers of the Multi-Sector Bond team. He is a credit specialist with 30 years’ experience in fixed income markets gained across a variety of senior roles in asset management and investment banking in London, Frankfurt and New York.

He has held leadership positions in high yield, credit derivatives, structured products and global credit trading at Credit Agricole, BNP Paribas, Greenwich Capital and UBS. Once a member of the infamous New York Cosmos soccer team, David went on to earn degrees in business at the University of British Columbia, Vancouver and law from the University of Reading in the UK.

Fund performance

TwentyFour Asset Management

TwentyFour Asset Management is a fixed income specialist based in the City of London. Founded in 2008 by a group of leading fixed income professionals, investing in investment products that span across the fixed income risk spectrum.

In April 2015 the Firm entered into a strategic partnership with Vontobel Asset Management, a subsidiary of the Vontobel Group. Vontobel Asset Management acquired a 60% shareholding in the firm with TwentyFour Asset Management’s working partners retaining a 40% stake in the business. The firm remains autonomous, run by the partners with full control over day-to-day business decisions.

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