Marlborough has appointed LA-based TCW to manage its high yield bond fund, which has been given a broader, global mandate as the firm seeks to grow its fixed income range.
The fund, formerly known as the IFSL Marlborough High Yield Fixed Interest fund, has been renamed IFSL Marlborough Global High Yield Bond fund.
The strategy will be run by TCW co-heads of global credit Brian Gelfand and Steven Purdy, alongside Michael Carrion and Russel Higgins.
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TCW takes over from Aberdeen as the sub-investment manager. The fund had previously been run by Aberdeen’s Ben Pakenham and Adam Tabor, who both joined Polen Capital last year.
The fund’s annual management charge (AMC) for its ‘P’ class units will also be reduced from 0.75% to 0.60%.