Bond Fund Manager Jon Mawby Quits Man GLG

The manager of the Morningstar Bronze Rated Man GLG Strategic Bond fund has resigned with immediate effect

David Brenchley 23 April, 2018 | 2:33PM
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Bond fund manager Jon Mawby has resigned from his position at Man GLG and has been placed on gardening leave with immediate effect.

Mawby had managed the Morningstar Bronze Rated £254 million Man GLG Strategic Bond fund for almost five and a half years. He also managed the £98 million Man GLG Corporate Bond fund.

Co-manager Andy Li will continue with Man GLG and take ownership of the funds, reporting to the firm’s newly appointed chief investment officer of credit, Simon Finch, who joins from CQS.

Since Mawby took over on the Strategic Bond fund in November 2011, returns on both offerings have been similar, at 50.02% and 49.58% respectively. Annualised five-year returns on the Strategic Bond fund have been 3.28%.

Mawby joined Man GLG from ECM Asset Management. Where he spent seven years. He previously worked for Gartmore, Aviva Investors and Goldman Sachs.

Morningstar Analyst View Ashis Dash reacted to today's news:

"Jon Mawby was the lead manager of the fund and his departure is a loss in our opinion. But Andy Li continues in his role as co-manager of the funds. Additionally, Simon Finch has joined Man GLG from CQS as the new CIO of credit and he’s likely to take over as lead manager of the funds. Finch previously held the role of CIO at CQS and ran a multi-asset credit fund.

"We are looking to schedule a meeting with him to understand if there would be any changes to the portfolio’s investment process."

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David Brenchley

David Brenchley  is a Reporter for Morningstar.co.uk