Jon Mawby, the experienced senior portfolio manager for bonds at Man GLG, has resigned with immediate effect to take up another role within the industry.
Mr Mawby ran the £100m Man GLG Corporate Bond fund and the £250m Man GLG Strategic Corporate Bond fund.
FTAdviser understands Mr Mawby has been placed on immediate gardening leave ahead of taking up his new role.
The funds he manages are jointly run with Andy Li, who will remain with the firm and run the funds, reporting in to Simon Finch, who joined Man GLG as chief investment officer for credit in March 2018.
Darius McDermott, managing director of Chelsea Financial Services, is a fan of Mr Mawby’s funds, and said Mr Li staying on to run the investments is a positive as he is a “safe pair of hands”.
Mr Mawby had previously worked at firms including Gartmore and Goldman Sachs.
His Strategic Bond fund is ranked 14th from 81 funds in the IA UK Sterling Strategic Bond sector over the past year, returning 4 per cent, compared to one per cent for the average fund in the sector in the same time period.
The Corporate Bond fund has returned 20 per cent over the past five years to 23 April, compared with 9 per cent for the average fund in the IA Global Bond Sector in the same time period.