Fund manager Q&A: Investors struggle to change mandates

A Frankfurt-based asset manager, with more than €20bn in covered bonds under management, spoke to The Cover, on condition of anonymity, on Thursday about the good environment for higher yielding debt, the prospect of German insurers’ absolute return targets being lowered soon and the changing nature of investment mandates, which will favour innovative secured products such as the SME structure being pioneered by Commerzbank.