JO Hambro Capital Management has hired two managers from Thames River Capital for a pan-European dynamic fund launch.
Trygve Toraasen, now a senior manager at JOHCM, and Carlos Moreno, now a fund manager at the boutique, had left Thames River by mutual agreement following its merger with F&C Asset Management last year.
The pair will run an All Europe dynamic growth fund, for launch in late February. Before joining Thames River, they had worked together for five years at Fidelity International, where Toraasen outperformed during his tenure on the Fidelity European dynamic growth fund.
Despite Toraasen’s track record, F&C said it had made little sense to retain its own pan-European equity team alongside Thames River’s following the merger, particularly as Thames River’s ran fewer assets than F&C’s.
Paras Anand, the head of European equities at F&C, now runs Toraasen and Moreno’s European dynamic growth fund, which holds less than £10m.
No decision has yet been taken to close the fund, but F&C said it would be marketing its European growth and income fund more actively this year.