Star income manager Adrian Frost is joining Artemis to take over its underperforming UK income fund.
Frost arrives from Deutsche Asset Management, where he was head of UK equities until April, when he took a six-month sabbatical. He then quit the firm in October.
Artemis' income fund is currently managed by Derek Stuart but is lagging in the third quartile for the past year. Stuart will now concentrate on managing the special situations fund.
Frost will be the principal speaker at Artemis' Isa roadshows in January and will develop plans to extend the income product range.
He says: “I have a great passion for fund management and over the years have most enjoyed managing income funds for retail investors. My previous responsibilities, by their nature, did not, however, allow me to devote as much time to managing money as I would have wished. Artemis offers me an exciting, entrepreneurial environment where I can devote my energies to pursuing what I enjoy most, namely, managing money.
Chief executive Mark Tyndall says: “At the heart of Artemis is a single-minded commitment to outstanding investment performance, based on the employment of outstanding investment personnel.”