Wealth Manager - the site for professional investment managers

Register for full access to Citywire’s Fund Manager database, news and analysis. 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.
Citywire TV
Play Investment Pulse: the highs and lows of 2014

Investment Pulse: the highs and lows of 2014

This week's Investment Pulse looks back at some of the biggest stories of the year as well as looking forward to 2015.

Play Inside ETFs: Why the US bull-run still has legs

Inside ETFs: Why the US bull-run still has legs

Global equities suffered a sharp sell-off in the third quarter but exchange traded fund investors are continuing to back the US to outperform in 2015

Play Paul Niven: I won't rip up the Foreign & Colonial Trust history book

Paul Niven: I won't rip up the Foreign & Colonial Trust history book

The newly appointed manager of the Foreign & Colonial trust talks about his plans for UK's oldest investment company.

Your Business: Cover Star Club

Manchester wealth firm hires Coutts director for London launch

Manchester wealth firm hires Coutts director for London launch

Former Coutts director Tony Robinson has joined Chartered Wealth Management to head the company’s newly opened London office.

Wealth Manager on Twitter