Old Mutual Global Investors has enhanced its fixed income team by creating a Fixed Income Absolute Return Team.

The new team will be headed by Russ Oxley, while Huw Davies, Joshua Heming, Adam Purzitsky, Paul Shanta and Jin Wong will be the other members of the team.

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Julian Ide, CEO of Old Mutual Global Investors, said: "By adding the investment skills of this new team to our existing highly regarded team, we will have one of the asset management industry’s most powerful fixed income operations."

The members of the new team have previously served at Ignis Asset Management.

The new team will join the company next year and will be responsible for supporting the launch and future management of a new range of fixed income – absolute return products.

The firm will also open an office in Edinburgh to continue the current dual location arrangement that the team has operated.

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At present, the company has a Fixed Income Team which includes nine members and is led by Christine Johnson, and this team will be retained.