Ex-UBS manager Glass joins City Financial as fixed income head
Graham Glass has joined City Financial to spearhead the group’s fixed income operations, as the firm looks to build up its product range in this area.
Glass (pictured) joins from Argyll Investment Services where he has been running the £52m City Financial Strategic Global Bond fund on an outsourced basis since it relaunched last January.
The fund has been moved in-house following Glass’ appointment.
He has more than 20 years’ experience in managing fixed income assets, previously heading up teams at UBS, Norges Bank and Assicurazioni Generali.
Ed Rosengarten, head of UK asset management at City Financial, said the group wants to strengthen its fixed income presence in the coming years.
“We want to have more scale in fixed income and have a couple of ideas to add new products to the mix,” he said.
“However, we will firstly focus our efforts on growing our Strategic Global Bond fund, which has grown from £8.9m to £52.9m over the past year due to its negative correlation to equity markets.”
Over the past year the fund has returned 2.7%, below the IMA Global Bond sector average return of 7.6% to 15 February, according to Morningstar.
Last October Investment Week revealed City Financial had bought the asset management arm of Eden Financial in an attempt to grow its UK equity, fixed income and multi-asset capabilities.
This article was first published on Investment Week