Capital adds to local FI team

Capital Group has bolstered its Australian fixed-income team by transferring the Asia Pacific asset class lead to Australia.

Haran Karunakaran will take up the role of fixed-income investment director based in Australia, next February.

Until then he will continue to lead the fixed-income business in Asia Pacific.

Karunakaran has 18 years of industry experience and has been with Capital Group for two years, joining PIMCO, where he was senior vice president and fixed income strategist.

At PIMCO, he started the firm's equity investment platform in Europe, focusing on non-traditional equity strategies like active quant, smart beta and portable alpha.

After completing university in Sydney, Karunakaran worked at AMP Capital Investors. for a year before moving to Corporate Value Associates for five years.

Meanwhile, Manusha Samaraweerahas has joined Capital's fixed-income team in a similar role.

Based in Singapore, Samaraweerahas joins from PIMCO, where he was a fixed-income and ESG strategist building solutions for Asia-based clients.

Samaraweerahas' blend of deep regional knowledge and fixed income expertise, as well as Karunakaran's broad-ranging APAC product strategy and development experience, will support our continued efforts in bringing CapitalGroups 50 years of fixed income expertise and credentials to investors across APAC," said Capital Group head of asset class services Andy Budden.

Scott Steele, head of fixed-income business development for Asia and Europe noted that fixed income plays an important role in meeting investors' long-term financial goals, and while many have taken flight from markets to shift into cash, now may be a good time to take cash off the sidelines and consider fixed income.

The appointments follow the launch of the Capital Group Multi-Sector Income Fund (AU) this June to bolster Capital Group's fixed-income offerings to investors in Australia.