BlueBay Asset Management, the fixed-income specialist investment house, has become the latest firm to make a round of job cuts, as the outlook for the asset management sector becomes tougher. The firm is understood to have shaved about 30 roles from its 200-strong team.

A source familiar with the situation said the asset management company had made redundancies of 10% to 15% of its workforce. That puts it in the same bracket as competitors like Schroders, F&C Asset Management, Fidelity International, Fortress Investments and Morgan Stanley Investment Management, all of whom have made similar cuts.