Investment manager GLG Partners has confirmed the launch of the GLG Strategic Bond Fund.

The company, which was purchased by alternative investment management business Man Group last year, said the fund is to be managed by Christophe Akel and will aim to provide returns above the sector average for strategic bond funds.

According to GLG, the UK-domiciled fund will adopt a 'flexible investment strategy', investing in government and corporate bonds, index-linked securities, derivatives, deposits and cash globally.

Akel, who also manages the GLG Global Corporate Bond Fund, said, 'I am looking forward to running a strategy with this degree of flexibility, both across the credit universe and geographically. The current uncertain market environment has created challenges, but also opportunities for fixed income investing globally.'

Richard Phillips, head of UK retail at Man, commented, 'We have seen strong demand from investors for a global strategy with the ability to invest across the entire fixed income universe.

'This new fund will give Christophe full flexibility to leverage GLG’s market leading global credit platform and we believe it will be a valuable addition to our existing fixed income proposition,' he added.

GLG manages assets of $23 billion (£14 billion) in 68 funds worldwide.