Babson Capital Europe has appointed Kam Tugnait as managing director, Financial News reports. In the new role, Tugnait will co-manage a new UCITS fund focused on European high yield at Babson.

He will work under Zak Summerscalem as the head of loans and high yield. Tugnait was previously the head of high yield at Gartmore and managed the Gartmore High Yield Corporate Bond fund.

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