ING Investment Management (ING IM) has hired the convertible bond team from Avoca Convertible Bond Partners, adding a strategy to its range that offers equity upside participation with downside capital protection.
Tarek Saber and Jasper van Ingen, managers of the Avoca Convertible Select Global Fund that went live in April 2012, joined ING IM at the end of November. Saber joins as Investment Team Manager Convertible Bonds and Van Ingen as Senior Portfolio Manager Convertible Bonds.
“In the current investment environment we expect investors to focus on yield, lower volatility and limited draw down risk. Convertible bonds fit very well within this environment and provide an excellent complementary strategy to our product suite,” says Hans Stoter, CIO ING Investment Management.
“We are very pleased to be able to provide this additional strategy to our clients by bringing on board Tarek and Jasper, who are seasoned investment experts with a very strong track record in this asset class.”
Tarek Saber: has more than 27 years of experiences in convertible bond markets. He joined Avoca in 2011 where he led the convertible bond business. Prior to joining Avoca, Saber was at ABP/APG, where he set up and managed the successful corporate opportunity strategy fund (COS fund), which consisted of investments in convertible bonds and equity linked instruments. Before this, he spent seventeen years in investment banking as global head of convertible bonds at HSBC Investment Bank and as head of European convertible bonds and global head of global depository receipts trading at Schroder Securities.
Jasper Van Ingen: has more than 10 years of experience in convertible bond markets. Between 2004 and 2010, he was senior portfolio manager at APG’s COS Fund. Van Ingen played an important role in the development of the COS Fund. He was responsible for the day to day management of the fund in all aspects, ranging from fundamental analysis to trading and corporate restructuring. Before joining the COS Fund, Van Ingen worked as a portfolio manager at APG’s USD5 billion Hedge Fund investment department in Amsterdam and New York.
Saber and Van Ingen will be based in London.
