Schroders has hired a four-strong team to establish an in-house convertibles proposition.
Three of the managers join from Fisch Asset Management, a firm that Schroders had outsourced the management of its convertible funds to. The hires will allow Schroders to bring the management of its convertibles mandates in-house.
The trio that have transferred to Schroders are Dr Peter Reinmuth (pictured), manager of Schroder ISF Global Convertible Bond and Asian Convertible Bond funds, Dr Martin Kuehle, product specialist for the two funds, along with Urs Reiter, a senior convertibles trader.
At the same time Schroders has hired Damien Vermonet for the team. He joins from Acropole AM where he was portfolio manager of global convertible long-only strategies, with a particular focus on US convertibles
The new team, which controls $2.1 billlion, will be based in Zurich and report to Philippe Lespinard, Schroders’ chief investment officer of fixed income.
'Schroders has invested heavily in its fixed income business in recent years to deliver robust investment performance,' Lespinard said in a statement.
'Convertible bonds are an attractive asset class for our clients worldwide, in addition to the firm’s existing credit and equity capabilities.'