GLG Partners, a discretionary, multi-product global investment manager based in London, has named Jack Barrat as the new co-manager of the GLG Undervalued Assets Fund.

Barrat, who was previously serving as assistant portfolio manager, will manage the £104 million fund alongside Henry Dixon.

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Barrat will also co-manage the GLG UK Income fund, which Dixon took over in December 2013.

GLG Partners, which is a part of Man Group, said that the GLG Undervalued Assets Fund invests in UK equities, which is considered to be undervalued compared to their asset base and to their returns on capital.

The UK-domiciled Fund is a mirror of the FP Matterley Undervalued Assets Fund launched by Dixon in 2008 at Matterley.

Henry Dixon, portfolio manager of the GLG Undervalued Assets Fund, said, "Jack fully deserves to have his talent and contribution to fund performance recognised through his promotion to co-manager."

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"I look forward to working with Jack for many more years with the aim of delivering attractive returns for clients with the support and resources of GLG."