Updated: GLG plans to close bond funds after Isaac's departure

Philippe Lespinard

GLG Partners is to close three of its bond funds after manager Gareth Isaac was poached by rival Schroders. The group said it plans to close the GLG Gilt, GLG Core Plus Sterling Bond and Total Return Bond funds following fixed-income star Isaac's departure.

All three funds have a small amount of assets compared with peers, with just £48 million in the Core Plus fund, £33 million in the Gilt fund and £34 million in the Total Return fund.

The Core Plus fund is nonetheless a top quartile performer

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