Liontrust Readies Return To Fixed-Income With New Hire

Nov 29 2012 | 12:09pm ET

Liontrust Asset Management is returning to the fixed-income space in the new year with the launch of new bond hedge fund.

The London-based firm sold its fixed-income business, including two hedge funds, to Avoca Capital a year-and-a-half ago. But the firm has now hired Michael Mabbutt to serve as head of global credit in advance of January's new offering.

Mabbutt was a consulting partner at Thames River Capital and formerly ran that firm's global credit offerings. He also formerly worked at LGT Asset Management and Baring Asset Management.

"Michael has a long, proven track record of delivering strong performance for the investors in the funds that he has managed and sees the opportunity in the current economic and market environment to continue that at Liontrust," CEO John Ions said.

"The global credit and currency markets appear to be distorted by, among other things, central bank intervention," Mabbutt said. "A moderation, or reversal, of such intervention one day might affect different areas of these markets in different ways. A Global Strategic Bond Fund that has the flexibility to invest across all areas of the global credit and currency markets should be an advantage."

The new fund will be based in Dublin, Ireland.

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