The co-founder of exchange traded funds provider Source, which was acquired by US investment manager Invesco last year, is launching a venture specialising in fixed income.

Michael John Lytle, who was chief development officer at London-based Source, has teamed up with Hasan Sabri, a former chief operating officer at fund manager GLG Partners, which is now part of Man Group. The pair have set up London-based Tabula Investment Management, which plans to launch fixed income ETFs, according to a statement.