Square Mile Investment Consulting & Research has added the Legg Mason Brandywine Global Fixed Income Absolute Return Fund to its Academy of Funds, and has upgraded the Old Mutual Corporate Bond Fund. Both now have an A rating.

Housed within a dedicated section on the Square Mile website, and free for all advisers to access, recommended funds carry a rating - A, AA, AAA or P+ - as a mark of quality and a reflection of the level of conviction Square Mile has in a fund's ability to deliver on expectations.

Commenting on the Old Mutual Corporate Bond Fund, Square Mile's Head of Research Victoria Hasler said:

"We are pleased to announce the upgrade of the Old Mutual Corporate Bond fund from a Positive Prospect rating to an A rating. Since she formally started running this fund in late 2011, manager Christine Johnson has proved to be an experienced pair of hands, leveraging off the broader fixed income team at Old Mutual Global Investors. The recent appointment of Mr Harris as co-manager on the fund brings an extra layer of expertise, particularly in terms of the financials sector, and formalises the team approach. During Ms Johnson's tenure, the fund has paid out a relatively high and consistent level of distributions, thus providing investors with a useful source of income."

Commenting on the Legg Mason Brandywine Global Fixed Income Absolute Return Fund's A rating, Square Mile's Head of Investment Jason Broomer said:

"The Legg Mason Brandywine Global Fixed Income Absolute Return fund is managed by an experienced team who have proven themselves capable of seeking out and investing in value opportunities in varied market conditions. The strong investment process, with a focus on undervalued bonds and currencies, should, in our view, continue to provide opportunities for outperformance. We consider that the managers have sufficient hedging options at their disposal to generate returns irrespective of the trend direction of markets and that the fund be categorised within Square Mile's capital preservation outcome."