UK boutique snaps up rival’s global credit chief

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Liontrust Investments has announced Michael Mabbutt of Thames River Capital is set to join the firm in January with the remit of setting up a global credit division.

Under his new role, Mabbutt, who had served as co-manager on the Thames River High Income Fund, will be charged with overseeing the launch of a Dublin-domiciled Global Strategic Bond fund.

The new fund is set to be launched in the New Year, subject to regulatory approval, and will call upon Mabbutt’s long track record in the spheres of global credit and emerging market debt.

Mabbutt had previously served as head of the global credit division at Thames River Capital, head of emerging market debt at LGT Asset Management and also head of EMD at Barings.

Liontrust’s chief executive John Ions said the appointment of Mabbutt will add to the firm’s international distribution capabilities.

Commenting on his appointment, Mabbutt said: ‘The global credit and currency markets appear to be distorted by, amongst other things, central bank intervention.’

‘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.’