GLG Appoints New Manager Of UK Income fund

Sandra Kilhof

22 January 2014

, has made Henry Dixon manager of the GLG UK Income fund.

Dixon assumed control of the £65 million (about $106.9 million) fund at the start of December, having joined GLG in September 2013 from his own fund management firm, Matterley. Launched in 1999, the fund aims to achieve a level of income above the FTSE All-Share Index together with capital growth through investing primarily in UK equities.

Dixon takes over the GLG UK Income Fund from John White, who relinquished his fund management responsibilities last year to work on strategic initiatives at Man Group.

“Equity income funds have always been the cornerstone of UK investors’ portfolios and we have been looking to develop our proposition in this space. Henry’s value style lends itself very well to income investing and he has the right approach and experience to seek out potentially the best income opportunities across the UK market,” said Richard Phillips, head of UK retail at GLG.

Dixon will manage the fund alongside the GLG Undervalued Assets Fund, a UK-domiciled vehicle which invests in UK equities that are undervalued relative to their asset base and to their returns on capital.

As at 30 September 2013, GLG Partners had $27.7 billion in assets under management.