Hedge fund CQS adds to credit team with appointment from BlackRock/Barclays Global Investors

London hedge fund CQS has appointed Dhruv Mallick, from BlackRock/Barclays Global Investors, as a portfolio manager in its credit team, focusing chiefly on US credit markets.

At BlackRock/Barclays Global Investors in San Francisco Mallick ran long/short credit strategies.

CQS runs a credit long/short fund and also the Schroders GAIA CQS Credit fund, among its various products.

Simon Finch, CQS’ chief investment officer for credit, said: “We are pleased to have been able to attract someone of Dhruv’s calibre. Over the last 12 months we have seen strong growth in assets under management in credit long/short strategies to over $700m, and he brings with him a depth of experience in US markets that we believe will be additive to the team and our existing skill set.”

CQS’s credit long/short fund was up 6.8% net last year, and in the first quarter of this year fell 2.4%, according to investors. Its gains of 0.93% in the first three weeks of April, however, have brought this year’s performance to that day to a 1.4% decline overall.

CQS was established in 1999 by Michael Hintze (pictured), and has grown since then to run $11.5bn in various strategies, ranging from convertible bonds to asset-backed securities, and fixed income.

It has both unlisted portfolios and a fund of six inhouse funds, called CQS Diversified, which is listed on the London Stock Exchange.


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