Advertisement
UK markets closed
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • CRUDE OIL

    83.11
    -0.06 (-0.07%)
     
  • GOLD FUTURES

    2,254.80
    +16.40 (+0.73%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • Bitcoin GBP

    56,231.78
    +1,369.11 (+2.50%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • NASDAQ Composite

    16,379.46
    -20.06 (-0.12%)
     
  • UK FTSE All Share

    4,338.05
    +12.12 (+0.28%)
     

Tyndaris nears launch of convertible bond fund - source

LONDON, Feb 10 (Reuters) - Alternative investment advisory firm Tyndaris plans to launch a global convertible bond fund led by portfolio managers Damien Regnier and Eric Daniel, a source with knowledge of the matter said.

The Tyndaris Global Convertible Fund has begun marketing to investors and should start trading in a couple of months, the source said, but it was not yet clear how much money it would launch with.

Unlike most rival convertible bond funds, it would offer investors the chance to get their money back on a daily basis, as opposed to monthly or quarterly, the source said, and so could be marketed to retail as well as institutional clients.

Investing in mainly investment grade convertible bonds from across the globe, it would avoid using derivatives or straight equities and would not track the performance of a benchmark index, the source said.

ADVERTISEMENT

Regnier is best known for running one of the world's biggest convertible bond funds for Deutsche Bank (Other OTC: DBAGF - news) , the 3.5 billion euros ($3.94 billion) DWS Invest Convertibles fund.

Before that, he was a member of JPMorgan's convertible-arbitrage team, trading one of the largest proprietary books in London. Daniel, meanwhile, was previously head of equity derivatives and convertible bond sales at Citigroup (NYSE: C - news) in Paris.

The pair joined Tyndaris in May 2015 from Castle Harbour Securities after plans to launch a fund there failed to get off the ground.

Tyndaris, set up in 2012 by Raffaele Costa, one of the co-founders of Man Group (LSE: EMG.L - news) unit GLG Partners, also runs a real estate fund. ($1 = 0.8884 euros) (Reporting by Simon Jessop; Editing by Keith Weir)