First State Investments has launched a new high yield team to expand its global fixed income capabilities, the company has announced.
The new team will be led by the firm’s head of high yield, Matt Philo, and will reflect First State’s strategy of building out its global fixed income business.
Philo joined First State from MacKay Shields in 2016, where he was executive managing director and head of high yield.
The new team also includes Michael Elkins, formerly of Avenue Capital and Jason Epstein, who was previously managing director at Oak Hill Advisors.
Commenting on the launch, First State’s CIO of fixed income and multi asset solutions, Paul Griffiths, said: ‘The addition of the high yield team in New York further strengthens First State’s global fixed income capability and expertise in areas of proprietary research, and portfolio management.
‘The recruitment of Matt and the broader team illustrates our commitment to recruiting top quality investment talent in support of achieving our clients’ objectives.’