Aegon Asset Management has made a new appointment to its American equities team.
Gordon Crofts will take responsibility at Aegon for the healthcare and consumer sectors within the American Oeic sub-fund.
He will also manage the institutional pension version of Aegon's American fund and a number of funds aimed at the international market. Crofts is joining Aegon from Scottish Life where he ran its American portfolios and managed its worldwide global equity unit trust.
He was also responsible for overseeing its Japanese, Pacific and Latin American portfolios.
Aegon believes the US economy is heading for a partial recovery and is predicting a return to fundamental analysis and stockpicking for stock selection.
Head of American equities Elaine Crichton says: “2001 is already proving to be a white-knuckle ride for investors in the US. However, we believe that the med-ium-term outlook for the American market is better than many commentators suggest. While the economy has slowed significantly and may remain depressed for a while yet, there is good reason to believe that interest rate cuts should contribute towards a partial recovery before the year end.”