Gartmore's Tugnait joins Babson Capital Europe

Former head of high yield at Gartmore, Kam Tugnait, has joined European sub-investment grade credit fund managers Babson Capital Europe as a managing director.

Tugnait previously headed up the Gartmore High Yield Corporate Bond fund. In his new role at Babson he will co-manage the group's European High Yield fund, reporting to Zak Summerscale, head of loans and high yield. The hire is part of Babson's expansion of its loan investment management platform into senior secured bonds and high yield bonds. The company recently launched a global senior secured bond UCITS fund and has another in the pipeline, focsuing on European high yield. "Kam's high yield expertise complements our existing investment management platform and will be significan...