Sutherland, who previously ran the Stan Life Inv UK Gilt said he had managed to avoid much of the turbulence of the past decade associated with the "tech boom" and the "credit crunch".
"We've seen many credit cycles over the past ten years. We managed to avoid a lot of exposure to the 'tech bubble' because we avoided the high-yield tech stocks which then blew up. And we were shielded from the more recent crisis because we have long had misgivings on the US economy," he said.
Sutherland also points out that credit has "evolved" over the past decade.
"The Euro has opened up a massive credit market," he said. "Recently we have had an explosion in corporate bond issuance. Before that, credit was really just a sideshow, with banks being the main event".
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He also highlighted government stress as a big theme for the coming decade, and said this will lead to a change in the way banks function.
"The credit crunch essentially blew up the banks, the government stepped in, and now they cannot pass this debt on to anyone else," he explained.
"This strain is already coming through in what we're seeing in Greece, and in the debate and worry over the UK's credit rating. Banks will be very different; we have seen the end of entrepreneurial cowboy lending. Things will be much less interesting".
But Sutherland, whose funds invest largely in bonds, sees positives in this. "This change in governments and in banks is why credit and corporate bonds are now exciting. Government debt will be really exposed," he said.
Because of high government debt, he expects the market for government bonds will continue to be strong.
Looking back at the past decade, Sutherland sees a period defined by indulgence and lax regulation, and looking ahead, he sees a decade of dealing with the aftermath.
"If governments have debt, then one way out is to inflate their way out, so inflation will be a big theme, as will modest growth. The past three or four years have been the tension building up, now it is all being unwound," he said.
He also says the UK has the capacity to emerge from the "credit crunch" far stronger than Europe.
"The UK is positioned relatively well; it has no external debt, it is all in sterling and gilts, which is different to Europe and the Euro. Having our own currency on which to generate growth could make us stronger. Our quantitative easing (QE) policy demonstrates how structurally different the UK is."
Sutherland is waiting for the outcome of the general election before he defines his position too strongly.
"A lot depends on the next government. Strong spending will mean the UK's 'AAA' rating will stay in place. Everyone is expecting a Tory victory, but if we do see a hung parliament that would give a window of opportunity for very cheap gilts," he said.