The strategy is run by Iain Lindsay and & Jonathan Xiong who allocate risk to individual “Alpha Strategy Heads”. These team heads take ownership of specific areas of fixed income and currency markets (e.g. there are separate teams focused on currencies, developed market yield curves, cross-country relative value etc). Each team makes autonomous investment decisions within their area of expertise, with the collaboration of traders and analysts specific to each area. This gives the overall fund a less directional nature and offers the potential to profit irrespective of the general direction of bond markets. The strategy teams comprise between 5 and 16 individuals giving a total fund management team of over 100 investment professionals.