Ignis changes head of multi-manager range

Management of the Ignis Asset Management multi-manager range has passed to Michael Timmerman, managing director of the Ignis Advisors fund of funds business.

Timmerman replaces Simon Mungall, who is the sole remaining co-founder of former Ignis multi-manager joint venture Maia Capital, and will take on management of three retail funds.

The Ignis Advisors managing director will manage the Ignis Multi Manager Growth, Multi Manager Balanced, and Multi Manager Cautious funds alongside his institutional mandates.

Mungall, meanwhile, has become head of tactical asset allocation for Ignis.

Timmerman joined Ignis Advisors – which combined its various fund of funds businesses – as managing director and chief investment officer in 2010 from Aberdeen Asset Managers.

He had previously been chief investment officer of RBS Asset Management following its acquisition by Aberdeen earlier that year.