Robert Cook and six other members of the high-yield bond team left 40/86 Advisors, Carmel, Ind., to join J.P. Morgan Fleming Asset Management, New York. The team will be based in Indianapolis and will manage the $2.7 billion in high-yield assets currently run by J.P. Morgan Fleming, said Patricia Cook (no relation to Robert Cook), chief investment officer of global fixed income. Mr. Cook will be managing director and portfolio manager; Thomas Hauser will be portfolio manager; Robert Amenta, Jeffrey Lovell, Mark Prenger, Jeffrey Hutz and Matthew Nelson will be analysts. Brian Carroll, who was portfolio manager of Morgan's high-yield team, will work with Mr. Cook during the transition and then be reassigned, Ms. Cook said. After the transition, other members of the team may concentrate on credit investments, she said.
Eric Johnson, president of 40/86, said the company has a deep team continuing to manage high yield; he declined to elaborate.