Man GLG, a leading discretionary investment manager (the investment arm of the British alternative investment manager Man Group), has acquired Sanlam Four’s Strategic Bond fund in what has been described as “a forced sale”. Sanlam Four, is the boutique management arm of vertically integrated advice business Sanlam Group; although the deal is still subject to regulatory approval, the Portfolio managers Craig Veysey and Francois Kotze will leave Sanlam and set up a new home at Man GLG.
Veysey had taken the lead on Sanlam’s strategic bond strategy six years ago and had previously managed global bond funds at Scottish Widows Investment Partnership and WestLB Mellon Asset Management. Kotze joined Sanlam in 2017, moving from a position as a fixed income research analyst at Rathbone Brothers, and prior to that, a senior credit and macro analyst at Sanlam, where he had also worked with Veysey on the Sanlam Strategic Bond Fund.
Sanlam UK chief executive officer Jonathan Polin has stated that the team and investment approach remaining the same should allow for a smooth transition: “Our absolute priority is the safe stewardship of our clients’ assets and it is in their best interests to see the fund transition smoothly to Man GLG where it will be managed by the same team, to the same strategy and with the same process, methodologies and tools.
“This is not a decision we have taken lightly. Over the past two years we invested significant time and resources to marketing the fund successfully within the wealth management market, securing early adopters and substantial new fund flows.”
The firms have yet to reveal the cost of the deal.
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Gunner & Co. work with IFAs looking to sell their business, and can give you more information if you wish – contact louise.jeffreys@gunnerandco.com
