Ignis Asset Management has launched a real estate business with £2.6 billion in assets.
Ignis Real Estate will be headed by Gary Hutcheson, its managing director.
Alan Gardner is joining as head of research from real estate giant Jones Lang LaSalle, where he was head of forecasting services. Daniel Baynes and Chris Brydie have joined as real estate managers. Steven Beveridge will become the business’s chief operating officer. Robert Boag will be a senior investment director.
The wider team will feature more than 30 people, including further upcoming hires.
The business will build on net inflows of £800m into Ignis’s property division this year. It will also be seen as a natural addition to Ignis’s efforts in the institutional field, where real estate constitutes an important part of asset allocation and managers such as F&C have added standalone real estate managers to their range.