F&C has snapped up London & Capital's fixed income hedge fund team. The team has joined F&C Alternat...
F&C has snapped up London & Capital's fixed income hedge fund team. The team has joined F&C Alternative Investments to launch a global diversified fixed income hedge fund, the F&C Tourmaline Fund. It will be launched in the first quarter of 2007.
F&C said that the recruitment of three senior hedge fund managers and a quantitative analyst is evidence of its ambitions to develop its range of specialist products and target new business in higher margin areas as part of its three-year accelerated growth plan.
Fernando Ribeiro, head of investments at F&C, said: "This is an important development for F&C Alternative Investments and a mark of our ambition to grow our hedge fund presence. We will continue to actively look for further opportunities to attract the right talent as a prerequisite of launching additional hedge funds."
The new F&C Tourmaline Fund will be the fourth fund in F&C's Gemstone range. It will also be the second hedge fund launch from F&C Alternative Investments within the last six months.
The lead manager on the F&C Tourmaline Fund will be Sanjay Joshi who headed up the London & Capital Fixed Income team from 2004 to 2007 and started up its fixed income hedge fund business.
The 45-year-old was previously a senior bond manager for Nordic pension fund SPP Investment Management and head of research at DAIWA Europe. His expertise lies in sourcing directional investment ideas from maccro themes.
Joshi said: "We have been impressed by the clear commitment of F&C's management to the development of its alternatives business. F&C has a strong brand, robust infrastructure and pan-European distribution.
This provides an excellent platform to grow a sizeable alternative investments business and we are excited about the opportunities that lie ahead."
Joshi has brought with him from London & Capital fund managers Rabbani Wahhab, Mario Nicolaou and analyst Shilen Shah.
An added tier of asset management can of course deliver additional benefits for certain investors, writes Graham Bentley - just be sure you can justify it to the regulator and, especially, the client
The government is "in daily contact" with industry figures over the pensions dashboard as it prepares for the roll-out and its feasibility report, Guy Opperman has said.
Organisation led by Johnny Timpson
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