Manager Research

ABAX have informed the market that Rashaad Tayob, portfolio manager of the Nedgroup Investments Flexible Income Fund, will be leaving the business. Rashaad joined ABAX as a portfolio manager in 2012 and has been a key member of their fixed income and multi-asset teams since then. Prior to ABAX, Rashaad was a portfolio manager at both Aeon Investment Management and Prescient Investment Management. He is leaving the business on good terms and is currently conducting a measured handover process to other members of the ABAX team.

While ABAX follow a team based approach they tend to have a lead portfolio manager for each fund. This lead portfolio manager is ultimately accountable for the performance of the fund. Philip Liebenberg will be assuming the lead portfolio manager role for the Nedgroup Flexible Income Fund. Philip is a highly competent portfolio manager who currently manages the Tier 1 rated ABAX Absolute Prescient Fund. He was the portfolio manager of the SIM Active Income Fund for close to a decade, so he has experience managing a multi-asset income mandate. The remainder of Rashaad’s responsibilities have been reallocated across ABAX’s investment team.

To ensure that the team is adequately resourced ABAX have hired Linda Smith as a senior team member. Linda has over 25 years’ experience in financial markets. Her career has been focussed on fixed income investments across both long-only and hedge fund mandates. Over the past decade she has spent time as a portfolio manager at Brait and Matrix in their hedge fund businesses. Her appointment adds further senior experience to ABAX’s investment team.

Despite Rashaad’s departure ABAX remains a stable business with a long-standing process and philosophy. The remaining team is still broad and experienced. Within that context we remain confident and have retained a Tier 2 rating on the Nedgroup Flexible Income Fund.