He will take up his new role in January next year when he will report to chief investment officer Mark Burgess while working alongside Alex Lyle, head of managed funds. Lyle runs Threadneedle’s multi-asset, fettered managed funds that are available to retail and institutional pension fund clients.
The firm does not have an unfettered multi-asset fund of fund range that includes third-party funds and, while it is too early to confirm, it would not be a surprise for Nangle to be looking at developing this type of proposition.
Lyle runs his managed fund range on a long-term strategic asset allocation basis while Nangle is expected to have more of a focus on tactical asset allocation.
At Barings, Nangle was a director of both the multi-asset and fixed income teams having joined the latter team in 1997 before becoming head of global aggregate fixed income. Since 2007 he has been member of the firm’s asset allocation group and managed multi-asset portfolios.
A spokesman for Barings confirmed the current situation is for him to leave after completing his notice period.
“We will be replacing Toby with an experienced portfolio manager and are further planning to expand the team with the recruitment of new asset allocation specialists in London and Boston.
“Product responsibility for the Dynamic Asset Allocation Fund continues to be led by Percival Stanion and Andrew Cole. Responsibility for the new Dynamic Emerging Markets Fund remains with Percival, assisted by Hartwig Kos.”
