Man GLG has purchased Sanlam FOUR's strategic bond investment strategy and £290m assets, which will see fund managers Craig Veysey and Francois Kotze continuing to run the vehicles in their new home.
The pair, which Man GLG said had chosen to pursue new career opportunities at the firm, will also take over Man GLG's existing Strategic Bond fund, following the resignation of Jon Mawby in April. Andy Li had been running the fund since then, and now he and Simon Finch will work with Veysey and Kotze on the wider strategic bond strategy.
Veysey has run the £291.6m Sanlam Strategic Bond fund since launch in March 2012, but has been responsible for fixed income mandates at the firm since 2009. Previously he worked at SWIP, WestLB Mellon Asset Management and HSBC Investment Management.
Francois Kotze joined the fixed income team at Sanlam FOUR in 2017, working alongside Veysey as assistant portfolio manager on the strategic bond strategy. Before joining Sanlam FOUR, Kotze was a fixed income research analyst at Rathbone Brothers, and prior to that he was a senior credit and macro analyst at Sanlam, also working with Veysey.
The duo adopt a strategy focused on investing in attractively valued corporate and government bond opportunities across the global bond universe. There is also a dynamic macro overlay strategy that seeks to enhance the total portfolio returns.
The Sanlam Strategic Bond fund won the £ Strategic Bond fund category at Investment Week's Fund Manager of the Year Awards 2018.
Over five years to 4 September, the Sanlam Strategic Bond fund has returned 49%, compared to the IA Sterling Strategic Bond fund sector return of 21.4%, according to FE.
Jonathan Polin, group CEO of Sanlam UK, the parent firm fund management boutique Sanlam FOUR, said: "Our absolute priority is the safe stewardship of our clients' assets and it is in their best interests to see the fund transition smoothly to Man GLG where it will be managed by the same team, to the same strategy and with the same process, methodologies and tools.
"This is not a decision we have taken lightly. Over the past two years we invested significant time and resources to marketing the fund successfully within the wealth management market, securing early adopters and substantial new fund flows.
"We will continue to bring on-board talented teams and give them the freedom to develop their investment strategy to deliver strong performance for our clients."
Teun Johnston, CEO of Man GLG, commented on the acquisition: "We are delighted to welcome Craig and Francois to Man GLG. Craig is a seasoned bond portfolio manager who, along with Francois, has developed a rigorous, repeatable investment process, which we believe offers a compelling proposition for our clients.
"We have a successful track record of hiring and integrating exceptional senior level talent and investment teams at Man GLG, and believe Craig and Francois' expertise will be highly additive to our existing strategic bond offering and to Man GLG's overall fixed income platform."
Purchased for undisclosed sum
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