Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Neuberger Berman nabs AXA man for European HY bond launch

Neuberger Berman nabs AXA man for European HY bond launch

Ian Bates has quit AXA Investment Managers to join Neuberger Berman, which is to launch a European high-yield bond fund, Wealth Manager can reveal.

At AXA, Bates managed the £10.3 million AXA Sterling Long Bond and £26.4 million AXA Sterling Long Corporate Bond funds. AXA confirmed that his responsibilities on both funds would be assumed within the group’s wider Sterling Credit team.

Over the past three years the Long Bond fund has returned 23.3%, a top-quartile performance within its Sterling Strategic Bond sector where the average fund has generated 19.5% through that period.

The Long Corporate Bond fund has produced 23.8% on a three-year view, also top quartile in its Sterling Corporate Bond sector where the average return has been 20.6%.

At Neuberger Berman, where he has been appointed as a senior vice president in the non-investment grade fixed income team, Bates will be involved in the development of the firm’s European high-yield strategies.

Neuberger Berman already has a high-yield fund focused on US bonds, managed by Ann Benjamin. The £7.8 billion fund has returned 25.1% over the past three years, compared with a sector average of 24.1%.

Bates joined AXA in December 2007, having previously worked as a buy-side credit research analyst at BlackRock covering utilities and energy.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Citywire TV
Play Hugh Yarrow: Why the equity income sector needs fixing

Hugh Yarrow: Why the equity income sector needs fixing

Hugh Yarrow's Evenlode Income fund was recently removed from the Investment Association's UK Equity Income sector.

Play GAM charity football tournament: the live draw

GAM charity football tournament: the live draw

Former Chelsea and England footballer Graeme Le Saux visits Citywire to make the draw for the tournament, where all proceeds going to Wheels for Wellbeing.

Play FIFA, Panama Papers…and what everyone’s getting wrong

FIFA, Panama Papers…and what everyone’s getting wrong

VIDEO: Investigative reporter Jeffrey Robinson reveals how major corruption scandals are being mishandled and what to expect next.

Your Business: Cover Star Club

Profile: JPM Wealth MD on breaking the glass ceiling

Profile: JPM Wealth MD on breaking the glass ceiling

During her tenure at JP Morgan, the private bank has changed the way it segments clients in a bid to improve focus

Wealth Manager on Twitter