Lonsec said it liked the flexibility of the investment mandate, which offered investors the potential "to participate in rallying credit markets as well as reverting to more cash-like strategies as a means to protect on the downside".
It said its comfort with the high degree of flexibility stemmed in part from the strong qualitative opinion of the investment team.
The fund returned 9.52 per cent over one year and 6.7 per cent over three years, outperforming its benchmark index, the UBS Bank Bill Index, by a respective 4.54 and 1.84 per cent.
