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Former UBS exec, billionaire launch fixed-income firm

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Former UBS executive Christian Baylis has teamed up with billionaire investor Alex Waislitz and platform provider Cashwerkz to launch a new funds management boutique, targeting institutions and retail investors with a range of fixed-income funds.

The company, Fortlake Asset Management, has been launched by Cashwerkz-owned fund incubator Fund Income, through Trustees Australia Limited. 

Dr Baylis, who has previously worked on global fixed income and derivatives strategies across UBS Asset Management, the Reserve Bank of Australia and Standard and Poor’s, has taken the role of managing director.

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Meanwhile, Mr Waislitz will be a major shareholder and non-executive director for the boutique.

Fortlake has been supported by a number of players, including JP Morgan, Tactical Global Management (TGM) and Link Fund Solutions. TGM executive chair Peter Higgs will also be chair of Fortlake. 

Cashwerkz chief executive Jon Lechte, who is also a non-executive director of Fortlake, noted the Fortlake will be the first fund brought to market by the Fund Income business. 

“Over time, Fortlake and the Bond Income business will have some shared capability and synergy, Dr Baylis delivers the opportunity for collaboration with the best market insight and expertise to also provide individually managed accounts,” Mr Lechte said. 

UTS Business School lecturer Kylie-Anne Richards, will also be an executive director of Fortlake, as well as chair of ESG.

Meanwhile, Peter Coad has been named as chair of the company’s risk committee.

“We have selected a very strong team of leaders in the industry, board members and advisers planning to hit the ground running and attract funds to be managed by Fortlake Asset Management,” Dr Baylis commented.

“The volatility of the share market has led many investors to seek stable alternatives for capital that offer good returns after inflation through sophisticated management in the fixed income market.”

Mr Waislitz added the performance of fixed-income managers has become more important in the current low-interest rate environment.

 

Former UBS exec, billionaire launch fixed-income firm
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Sarah Simpkins

Sarah Simpkins

Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth. 

Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio. 

You can contact her on [email protected].

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