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Gartmore appoints head of high yield

Kam Tugnait is joining Gartmore as head of high yield with responsibility for the High Yield Corporate Bond fund.

He will run the £130.7m fund with Simon Surtees, although the group has not yet decided who will be the named lead manager. Surtees previously managed the fund with Karl Bergqwist, the co-head of the fixed income team, who was made redundant in December.

Tugnait has worked as head of high yield at Standard Bank and the United Bank of Kuwait.

In a further addition to the fixed income team, John Anderson was appointed head of credit in February. He will join Gartmore from Rensburg later this year.

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