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J O Hambro multi-asset team launches new income fund, adds to team

Wednesday, November 29, 2017
Opalesque Industry Update - Active asset manager J O Hambro Capital Management (JOHCM) has launched its Global Income Builder (GIB) investment strategy. The new strategy is managed by JOHCM's Multi-Asset team, led by Giorgio Caputo, which was bolstered by the recent hires of Senior Fund Manager Robert Hordon and Investment Analysts Rémy Gicquel and Hugues Le Bras. These additions follow the earlier appointments of Caputo and Lale Topcuoglu, Head of Credit, and complete the five-member team.

The JOHCM Global Income Builder Fund seeks to provide an attractive and persistent stream of income along with capital growth, while investing with a margin of safety. JOHCM's Multi-Asset team employs a differentiated bottom-up approach to investing across asset classes that is rooted in global value investing and focuses first and foremost on the protection and preservation of capital. Capacity for the GIB strategy has been set at $10 billion, at which point JOHCM will take steps to limit additional inflows in order to protect the interests of existing investors.

Hordon was most recently employed by First Eagle Investment Management, where he partnered with Caputo to help the firm develop and launch its Global Income Builder strategy. Caputo and Hordon worked together to co-manage this strategy from its 2011 inception until the second half of 2016, along with the co-managers of the firm's high yield fund.

Caputo said: "Investing for income is a tough goal in today's low interest rate era, but one to which we feel deeply committed. JOHCM's focus on limiting fund size will ensure that the strategy stays nimble and retains access to a wide range of investment opportunities, from large-cap equities and investment grade bonds to more eclectic sources of income such as global small-cap equities, high yield bonds and preferred stock."

Ken Lambden, JOHCM Group CEO, stated: "We are excited to have brought together this impressive and experienced team to build on our strong recent growth in the U.S. mutual fund channel. With no house view, the Multi-Asset team will have the investment autonomy to execute their strategy without intellectual constraints while drawing upon the thinking of JOHCM's 15 other investment teams located in the U.K., the U.S., Europe and Asia."

Gicquel joined JOHCM from Harris Associates in Chicago, where he was a Senior International Investment Analyst on the International team. Le Bras was most recently employed as a Research Analyst with Paradigm Capital, AG, a Munich-based firm investing in European small and mid-cap securities.

JOHCM's integrated Multi-Asset team is based entirely in New York, where the firm has recently moved to new offices on Madison Avenue to accommodate its growth in the U.S. The new premises will also house JOHCM's established international small cap strategy, led by Robert Cresci.

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