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GLG hedgie quits seven months after fund’s launch
by Robert St George on Feb 20, 2014 at 11:15
Stefan Sluke, a fixed income manager at GLG, has left the firm less than a year after the debut of a Ucits version of his fund.
Sluke co-managed the Nomura Man Systematic Fixed Income Ucits fund with Andre Rzym, head of fixed income at Man Systematic Strategies. The fund launched in July 2013, based on a strategy the pair had run since the middle of 2012.
‘There will be no change to the fund or its strategy because Andre Rzym always was and remains the lead portfolio manager,’ a spokesperson for GLG told Wealth Manager.
The strategy was designed to take advantage of the current low interest rate environment, by investing mainly in directional opportunities in emerging and developed swaps, futures and FX markets. It intended to construct a balanced portfolio of assets across 50 markets based on 300 systematic trading signals.
Man Systematic Strategies chief investment officer Sandy Rattray cast the fund as a liquid way for investors to tap a ‘favourable’ backdrop for alternative fixed income while traditional bond funds suffer.
‘The competition for pursuing alpha opportunities has diminished as banks have reduced their risk taking in fixed income markets considerably since 2008, creating the potential to generate strong returns,’ he said.
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