June 15 (Reuters) - European asset manager Tages Capital said on Thursday that P. Schoenfeld Asset Management (PSAM) would replace Fore Research & Management LP as manager of one of its existing funds.
Since its launch in May 2016, the credit fund has generated net returns of 4.64 percent through April and has $64 million of assets under management, Tages said in a statement.
The asset manager said Al Moniz, who previously was a portfolio manager and partner at Fore Research, has joined PSAM to oversee the management of the fund, which has been renamed Tages PSAM credit fund.
Tages said its move to switch the fund manager was due to Fore Research’s decision to return external capital under management to investors. (Reporting By Aparajita Saxena in Bengaluru; Editing by Anil D‘Silva)