Asset manager recruits fixed income team

Independent fund management group, Liontrust Asset Management today announced that it has recruited the European fixed income team from London-based Ilex Asset Management.

The Ilex team moving to Liontrust consists of five partners. These are, founder and Chief investment officer Simon Thorp, senior portfolio manager James Sclater, co-heads of research Paul Owens and Quentin Peacock, and chief operating officer Gareth Roblin.

The team manages the Cayman Islands-domiciled long/short Ilex Credit Fund, which was one of the earliest European credit funds when it was launched in June 2000 to take advantage of opportunities created by the introduction of the euro.

Liontrust has entered into an agreement with Ilex to acquire the investment management contract for the fund. It says it will document the same investment process that has consistently been employed by Ilex for the past nine years. Liontrust intends to launch a number of collective investment vehicles that will adopt this process, including further alternative investment funds, authorised unit trusts and offshore funds. In addition, Liontrust will offer the fixed income investment process used by the team to the institutional market via segregated accounts and pooled institutional funds.

Thorp gained fixed income experience while working in several trading and management roles such as chief executive at Exco, co-head of global fixed income at NatWest Markets, head of sterling bond trading at Salomon Brothers and trading fixed income assets at SG Warburg and at Akroyd & Smithers.

Liontrust Asset Management was founded in 1994; its shares are quoted on the London Stock Exchange. Liontrust manages £1.907 billion (as of 23 March 2009) in UK and European equities.