GLG Partners has announced that Fabrice Bay, who has significant experience in managing global long-only and 130/30 portfolios, is to join its London office as a portfolio manager in Augus
GLG Partners has announced that Fabrice Bay, who has significant experience in managing global long-only and 130/30 portfolios, is to join its London office as a portfolio manager in August to lead the Consumer Fund team and co-manage the Capital Appreciation Fund alongside Ben Funnel.
Bay was previously a managing director with DWS/Deutsche Asset Management in Frankfurt, where he managed some EUR2bn in European equity mutual funds and institutional mandates. He was responsible for managing the EUR1bn DWS European Dividend Plus Fund and was in charge of the launch and management of 130/30 institutional equity products.
Previously Bay was head of investments at the DWS/Deutsche Asset Management office in Paris, where he oversaw the asset management platform and was directly responsible for equities and balanced investments. Between 2001 and 2005 he was a global small caps portfolio manager with Putnam Investments in Boston, co-managing the USD1.6bn Putnam International Capital Opportunity mutual fund and USD600m of institutional assets.
‘Fabrice has a unique institutional and international investment skill set and an impressive track record of achieving superior first quartile performance across a wide range of products and asset classes,’ says GLG founder and senior investment manager Pierre Lagrange. ‘We look forward to the contribution he will make to the GLG platform in leading the Consumer Fund team and co-managing the Capital Appreciation Fund.’
Launched in 1995, GLG aims to focus on preserving clients’ capital and achieving consistent, superior absolute returns with low volatility and low correlation to equity and fixed income markets.
At the end of March the firm managed assets exceeding USD24bn. Its consumer strategies make long-term strategic investments in the global consumer sector and take positions in attractive end markets including sub-sector growth with the aim of achieving consistent market share gains. The firm’s capital appreciation strategies target long-term capital appreciation through diversified portfolios of global equities and bonds.
