Opalesque Industry Update - GLG Partners LP, the Financial Conduct Authority authorised and regulated investment manager and part of Man Group plc, has appointed Jack Barrat as co-manager of the GLG Undervalued Assets Fund.|
Barrat, previously assistant portfolio manager of the £104m fund¹, which in April was awarded a Bronze rating by Morningstar, will co-manage the strategy alongside portfolio manager Henry Dixon. As part of his new role Barrat will also co-manage the GLG UK Income Fund, which Dixon took over in December 2013.
The GLG Undervalued Assets Fund invests in UK equities the managers consider to be undervalued relative to their asset base and to their returns on capital.
The UK-domiciled Fund is a mirror of the FP Matterley Undervalued Assets Fund launched by Dixon in 2008 at Matterley, the fund manager he founded. Barrat supported Dixon in managing the Matterley fund² before both managers, along with analyst Alice Owen, moved to GLG in October 2013.
Henry Dixon, Portfolio Manager of the GLG Undervalued Assets Fund, said:
“Jack fully deserves to have his talent and contribution to fund performance recognised through his promotion to co-manager. I look forward to working with Jack for many more years with the aim of delivering attractive returns for clients with the support and resources of GLG.”
Commenting on the Morningstar rating, Richard Phillips, Head of UK Retail at GLG, added:
“The GLG Undervalued Assets Fund has performed exceptionally well since launch and we are pleased Morningstar has awarded it a Bronze rating, demonstrating a high conviction in both the strategy and the team managing it.”