Former Skandia sales director Angus Duncan is joining Aon Asset Management to roll out its institutional multi-manager offering to the retail market.
Duncan, who took voluntary redundancy during Skandia's cost-cutting exercise last July, will be responsible for the wider distribution of six funds of managers within Aon's Dublin-based Oeic.
The funds, which include UK, Europe, North American and Japan portfolios, have a total of around £650m of assets, with most from existing pension clients.
Duncan will initially seek to increase this through life companies, banks, future multi-ties and link-ups with bigger IFAs. He will use Aon's research engine to attract clients. The engine can provide asset allocation and liability modelling and most of the services already offered to institutions.
Duncan says: “If you are of the belief, as I am, that manager of managers will do better than fund of funds over the coming years a lot of organisations will want to do business with a company such as Aon.”