Fund Times: September 27 - 31
Johnson departs Threadneedle; New CIO hired to Ignis Asset Management; Threadneedle launches emerging market macro fund; Churchlow becomes head of active equities at LGIM
Julian Thompson has left Threadneedle as Head of the Global Emerging Markets team and fund manager of the Threadneedle Latin American fund. Thompson joined Threadneedle in October 2003 as Head of Global Emerging Markets and he also managed Threadneedle’s Global Emerging Markets portfolios. Jules Mort, a senior member in the Emerging Markets team, is also departing the Group. In the interim, the Threadneedle Latin American fund will be managed by Jeremy Podger, Head of the Global Equities team. Vanessa Donegan has been appointed as Head of Asia and Global Emerging Markets and in her new role she will have overall responsibility for the emerging markets assets under management.
New CIO hired to Ignis Asset Management
Mark Lovett has joined Ignis Asset Management as its new chief investment officer for equities. He was previously chief investment officer for UK and European equities at Allianz RCM and will begin his new role on 4 October 2010. Lovett will report to Chris Fellingham, who also recently arrived from Soros Fund Management.
Churchlow becomes head of active equities at LGIM
Robert Churchlow has been appointed as new head of active equities at Legal and General Investment Management (LGIM); he will be reporting to Kevin Gregory who is chief executive of LGIM. Churchlow will take over from Mark Burgess who is departing the firm to join Threadneedle as chief investment officer and replace their current CIO Sarah Arkle. Churchlow was responsible for the UK desk but continues to run their UK Absolute Return and Growth funds; he joined the firm from Invesco in 2003 where he headed the UK institutional equities team. Prior to Invesco, Churchlow was in charge of UK equity portfolios and the pan-European equity research team at Royal Sun Alliance Investment Management.
Threadneedle launches emerging market macro fund
Threadneedle has launched a new absolute return offering; the Threadneedle Absolute Emerging Market Macro fund will invest in emerging market debt and currencies and enjoy the increased flexibility of a UCITS III structure. Its objective is to achieve an absolute return 7.5% – 12.5% on an annualised basis but is independent of any benchmark limitation. Richard House – who has 15 year’s emerging market and three year’s hedge fund experience – will manage the fund but he also has the support of Threadneedle’s Emerging Market Debt team. Agnes Belaisch who is Head of Emerging Market Strategy at Threadneedle will be Deputy Manager on the fund; prior to Threadneedle she spent 10 years at the International Monetary Fund as a senior economist.
Morningstar Qualitative Ratings and Reports Issued This Week
Morningstar issues new qualitative ratings and reports on funds available to UK investors each week. This week included BGF China. Click here to see the full list.
