ING Investment Management has hired boutique convertibles team Tarek Saber and Jasper van Ingen along with their Avoca Convertible Select Global fund.
The two-year-old fund, managed by the pair in the Avoca Convertible Bond Partners LLP, offers equity upside with downside capital protection.
ING would not say how large the fund is.
Saber, a 27-year veteran of convertible markets, is now convertible bonds investment team manager while van Ingen is a senior portfolio manager.
ING chief investment officer Hans Stoter says van Ingen and Saber were brought in as “seasoned investment experts” with a strong track record in convertibles.
“In the current investment environment we expect investors to focus on yield, lower volatility and limited draw down risk,” Stoter explains.
“Convertible bonds fit very well within this environment and provide an excellent complementary strategy to our product suite.”
Before Avoca, Saber ran a convertible and equity-linked instrument fund at ABP/APG. He arrived there after 17 years as head of convertibles at HSBC Investment Bank and as European global head of convertibles and depositary receipts trading at Schroder Securities.