Carmignac's Loggia takes sabbatical

Carmignac_EssafriCarmignac Gestion's European equities fund manager David Loggia is taking a six-month sabbatical until 2 May next year, and the boutique has hired Samir Essafri, a former analyst-manager from Axa IM-Framlington.

Loggia, who was in the management team for seven years, is co-manager of the firm's Carmignac Grande Europe Fund, which has returned 17.2% against a 5.53% return from the STOXX Europe 50 CR EUR benchmark between November 2009 and October this year.

Meanwhile, the successful boutique, which was founded in 1989, has promoted Davide Fregonese to head of professional clients Europe. This is an expanded role and the firm says Fregonese's main mission is to reinforce Carmignac Gestion's presence in Europe.

He joined Carmignac Gestion in 2006 as a sales director for Italy and became head of professional clients southern Europe three years later.

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