Liontrust hires Ilex team to add fixed-income
25 March 2009

Full Article Word Count: 685

In a further sign of consolidation in the hedge fund industry, Liontrust Asset Management is absorbing European credit specialist Ilex Asset Management, the fixed-income asset manager led by former Warburg, Salomon and NatWest man Simon Thorp, and has taken on its fixed-income team.

The Ilex team moving to Liontrust consists of five partners – chief investment officer Thorp, senior portfolio manager James Sclater and co-heads of research Paul Owens and Quentin Peacock, together with chief operating officer Gareth Roblin.

The team manages the Cayman Islands-domiciled long/short Ilex Credit Fund, which was one of the earliest European credit funds at its launch back in June 2000. Since inception the fund has delivered a return of some 44% to the end of 2008 – and it was one of very few European credit funds to show a positive return...