Man Group Partners with American Beacon for New EMD Fund

MAN Group’s GLG Partners has joined with liquid alternative mutual fund specialist American Beacon to launch a new ‘40 Act fund aimed primarily at emerging market debt. 

The new fund, named American Beacon GLG Total Return Fund, is the second offering between the two firms following the launch of the American Beacon AHL Managed Futures Strategy Fund in August 2014. It became effective May 20, according to a statement, and trades in two classes: institutional (GLGIX) and Investor (GLGPX).

The new fund takes an an absolute-return approach focused predominately on fixed income instruments of issuers that are economically tied to emerging market countries. Subadvised by Man GLG, the fund employs a primarily bottom-up and top-down investment process in which country credits, currencies and local rate curves are analyzed for relative value, the company said.

Portfolio manager on the new fund is Guillermo Osses, MAN GLG’s head of emerging market debt strategies. Osses, who was hired from HSBC in January, has 24 years of experience in emerging markets fixed income investing, including stints at PIMCO, Barclays and Deutsche Bank.

“We are excited to expand on Man’s existing partnership with American Beacon and introduce our second ‘40 Act product for U.S. investors,” said Eric Burl, co-head of global sales and head of Americas at Man. “Combining American Beacon’s robust distribution with Man GLG’s emerging market debt expertise allows us to continue offering institutional quality products in the mutual fund format.”

“We are looking forward to building off the success of our first mutual fund launch with our partners at Man Group,” added Gene Needles, chairman, president and CEO of American Beacon. “The team at Man GLG has a proven investment process and the experience to navigate the increasingly complex environment of emerging market debt.”

Founded in 1986, American Beacon's funds employ a “manager of managers” investment style and currently include international and domestic equity, fixed-income, liquid alternative and money market funds. As of March 31, 2016, American Beacon Advisors had $51.4 billion in assets under management

Man GLG is the discretionary investment management business of Man Group PLC, which traces its roots back to the 1783 founding of a sugar coop and brokerage company. Across its four investment managers (Man AHL, Man FRM, Man GLG and Man Numeric), Man Group has diverse hedge fund strategies and long only products across equity, credit, managed futures, convertibles, emerging markets and multi-manager solutions. As of March 31, 2016, Man Group had $78.6 billion in funds under management.