Fund manager Artemis has hired a JP Morgan Asset Management (JPMAM) equity manager in readiness for the retirement of global equity fund manager Simon Edelsten.
Edelsten - who manages the Mid Wynd International Investment Trust and the open-ended Artemis Global Select and Artemis Funds (Lux) Global Select funds - will leave the fund firm and retire as an Artemis partner at the end of 2023.
The boutique fund house has appointed Alex Stanic to the newly-created position of head of global equities to replace the outgoing Edelsten.
Edelsten will continue managing the strategies alongside Stanic, who joins from JPMAM's international equity group on March 1st.
Stanic spent seven years at JP Morgan, leading on the global equity funds in the global specialist team, including the Global Unconstrained Equity Fund. Before that, he was head of global equities at River & Mercantile, a division he set up in 2009.
Alex Illingworth – who co-manages the Mid Wynd and Artemis Global Select vehicles with Edelsten – will also leave Artemis at the end of this month.
Two further appointments to the global equity team are expected.
Paras Anand, Artemis' CIO, said: "Alex Stanic is an experienced manager and has managed institutional mandates with similar objectives of prudent growth to those applied to the Mid Wynd and Artemis Global Select funds.
"He and his new team will bring additional insights and expertise to the business while also leveraging the research and stock-picking skills of the wider Artemis equity teams to ensure investors continue to be served well."
The Artemis Global Select fund posted one and three-year trailing returns of 2.42% and 7.32%, outperforming Morningstar's Global Large Cap Growth Equity category by 0.42% and 1.2%, respectively.
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