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Fund Research & Insights

Fund Times: 7 - 11 July

Fidelity International Expands European Fund Management Team; More Re-shuffles at Baillie Gifford: Mike Gush to Take over Pacific Horizon Investment Trust; Investec Asset Management to Run UK Equity Mandate for SEI; Alliance Trust Chief Executive Skips Over to ING Investment Management Asia Pacific and Credit Suisse Appoints New UK Chief Executive Officer.

Muna Abu-Habsa 11 July, 2008 | 9:52AM
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Fidelity International Expands European Fund Management Team.
 In expanding its European fund management team, Fidelity international has appointed Aymeric De Seresin as European Portfolio Manger within its Real Estate Business. De Seresin joins from Jones Lang LaSalle, where he was a director within the European Capital Markets Group. Overall, De Seresin has 10 years’ experience in EU Real Estate. He will assume responsibilities in September 2008 and focus on Western European markets, particularly France and Spain. De Seresin’s addition to the business marks the first of many more to be made by Fidelity as it creates a European fund management team across its European offices.

1); font-weight: bold;"> More Re-shuffles at Baillie Gifford: Mike Gush to Take over Pacific Horizon Investment Trust.
Baillie Gifford manager Mike Gush will take over the portfolio management of the Pacific Horizon Investment Trust from manager Gerald Smith. Smith, who is a partner at Baillie Gifford & Co and has managed the trust since 1995, will be appointed to the Board early next year. Gush has been part of the emerging markets team since 2005, and currently co-manages the Baillie Gifford Pacific fund with Smith following the departure of Ben Lloyd last month ( see Fund Times: 27- 30 May ). The fund has been a strong performer in its Morningstar Asia Pacific Ex-Japan Equity category, residing in the top-third over the last three, five and ten years. It is considerably more aggressive than its average competitor, however.

Investec Asset Management to Run UK Equity Mandate for SEI
Investec has been chosen by SEI Investments to run a £300million UK Equity mandate. The high alpha mandate is designed to achieve long-term capital growth through UK equity investments, and will now be run using Investec’s proprietary 4Factor process. The process, which has been in place since 2000, seeks to identify companies that appear undervalued, are generating returns above cost of capital, with favourable earnings expectations and whose share prices are already on the rise.

Alliance Trust Chief Executive Skips Over to ING Investment Management Asia Pacific.
 Alliance Trust Chief Executive Allan Harden has stepped down to move to ING Investment Management Asia Pacific as Chief Executive. Harden joined Alliance in 2004 where he has since modernized the investment process and expanded the financial services side of the business, Alliance Trust Savings. His contributions have generated increases in the customer base and revenue of the Trust.

Credit Suisse Appoints New UK Chief Executive Officer
Credit Suisse has appointed James Leigh-Pemberton as Chief Executive Officer of its UK operations. Leigh-Pemberton will resume his current client responsibilities in the Investment Banking department alongside this role. He is currently a Managing Director and Chairman of UK Investment Banking. In his new role, Leigh-Pemberton will also assume responsibility for the Private Banking, Investment Banking and Asset Management client business in the UK. Previously, Leigh-Pemberton was at Warburg Securities for 15 years before joining Credit Suisse in 1994.

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

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About Author

Muna Abu-Habsa  is a senior investment research analyst at Morningstar

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