Aegon Asset Management has hired Stuart Fraser to head its European equities team.
Fraser joins from Standard Life Investments where he was manager of the company’s £70m European equity growth fund and the recently launched European ethical equity fund.
Fraser is set to start in early 2008 and will be responsible for overseeing the team’s investment process. He will report to Innes McKeand, who is head of equities at Aegon AM.
SLI has moved quickly to fill the void left by Fraser by appointing Jaime Ramos-Martin to manage the European equity growth vehicle, while Stan Pearson, SLI’s head of European equities, will take on the ethical fund in the interim.
Alasdair Duffy will continue to manage the £43m Aegon European equity fund alongside Mark Peden.
Aegon has yet to rule out further launches into the arena but has no concrete plans in place.
Fraser will also work on a number of institutional mandates for the firm.
The appointment comes shortly after Aegon’s recruitment of Morley’s senior property managers Philip Clark, Gerardine Davies and David Wise.
Aegon has been known in the past for having a strong fixed-income capacity but it has also seen strong performance on both its UK and European equity ranges.
The company also has a strong ethical investment strand running through its business, with vehicles in the equity, fixed income and cautious managed ranges.
Hargreaves Lansdown senior adviser Ben Yearsley says: “Fraser has produced top-quartile performance on the European equity growth fund at Standard so his appointment can only be good news for Aegon.
“It will be interesting to see how he works outside of the team while I expect that Aegon is keen to expand its European range in light of the appointment.”