Man GLG has merged the Sanlam Strategic Bond fund into its Dublin-domiciled Man GLG Strategic Bond vehicle, following the acquisition of Sanlam's strategic bond team last year.
Man GLG acquired Sanlam FOUR's strategic bond business in September 2018 as part of an agreement to hire lead portfolio manager Craig Veysey and deputy portfolio manager Francois Kotze.
The group gained approval for the fund merger last month, with the portfolio now becoming the Man GLG Strategic Bond fund, which was an existing Dublin-based strategy. The fund now has assets of nearly £428m as of 30 September 2019.
The strategic bond strategy is focused on investing in attractively valued corporate and government bond opportunities across the global bond universe. The investment approach is supplemented with a dynamic macro overlay strategy that seeks to enhance total portfolio returns.
Manager Veysey launched the strategy back in 2012, and has seen it produce a return of 70.3% since inception. Kotze initially joined Veysey at Sanlam as an analyst shortly after launch.
Teun Johnston, CEO of Man GLG, said: "We are pleased to have gained shareholder approval for the merger, allowing us to offer this fund to a broad group of investors.
"Craig and Francois have integrated seamlessly into Man GLG since joining, and as we continue to build out our credit offering we believe this strategy will be compelling for investors seeking a high-quality bond fund with a total return focus."