Man GLG, the discretionary investment management arm of Man Group, has agreed to purchase Sanlam FOUR’s strategic bond business for an undisclosed sum.

The acquired portfolio offers exposure to attractively valued global corporate and government bonds.

Portfolio managers Craig Veysey and Francois Kotze will move to Man GLG as part of the deal, which is pending regulatory approval.

Sanlam UK group CEO Jonathan Polin said: “Our absolute priority is the safe stewardship of our clients’ assets and it is in their best interests to see the fund transition smoothly to Man GLG where it will be managed by the same team, to the same strategy and with the same process, methodologies and tools. This is not a decision we have taken lightly.”

Veysey has been serving as the lead portfolio manager of the strategic bond strategy since 2012.

His fund management career of 17 years also includes stints at Scottish Widows Investment Partnership, WestLB Mellon Asset Management, and HSBC Investment Management.

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Kotze has been serving as the assistant portfolio manager on the bond strategy since last year. He previously worked at Rathbone Brothers.

Man GLG CEO Teun Johnston said: “Craig is a seasoned bond portfolio manager who, along with Francois, has developed a rigorous, repeatable investment process, which we believe offers a compelling proposition for our clients.

“We have a successful track record of hiring and integrating exceptional senior level talent and investment teams at Man GLG, and believe Craig and Francois’ expertise will be highly additive to our existing strategic bond offering and to Man GLG’s overall fixed income platform.”