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This week in Investment

Hot on the heels of the announcement that Jupiter has poached Schroders opportunity fund manager Ben Whitmore, the fund house has achieved a second notable scalp.

Former Gartmore Pacific and emerging markets manager Philip Ehrmann is set to join Jupiter in October to run a China equity unit trust subject to regulatory approval.

Ehrmann left Gartmore as part of a consolidation process once Gartmore pushed through its 500m Hellman & Friedman-backed management buyout in May.

With the group now effectively paying its own wages and the accent being on a round of streamlining, Ehrmann fell victim to the merger of the emerging markets desks, which saw Latin America manager Chris Palmer take on the amalgamated teams.

Another change brought on by the shake up is Chris Burling, who successfully ran the Japan opportunities fund under Ehrmann’s stewardship at Gartmore.

Burling has been snapped up by New Star where he will run an as yet undisclosed long only fund. They were no doubt impressed by his top decile performance on the Japan fund over the last three years although some believe the quants system employed by Burling to pick his stocks has done a great deal of the legwork.

It should be interesting to judge who is right once Gartmore’s quants team minus Burling has run the Japan fund business for a while and whether the team, led by Mike Gleason, can do as well as they have done recently with Gartmore’s hedge funds.

It seems Resolution just can’t keep away from Barings. The acquisitive boutique fund manager has just taken another bite out of Barings by poaching another two of its fund managers to join its new Londonbased emerging markets boutique Hexam.

Wilfred Willwong and Grant Shotter will join the team in September as partners in the joint venture. They join a long list of staff who have left Barings to pursue their careers at Resolution. This year, fund managers John Payne, Marina Akopian and Stuart Richards, as well as head of global equities Bryan Collings have all made the same journey.

Another group that has expanded at an aggressive rate is New Star. It may have passed its five year anniversary this week, but its founder John Duffield says it has no intention of slacking off on its marketing drive with the main emphasis right now continuing to be on promoting its highly successful property fund.

Duffield says however that from now on, the group will look to grow the business from within and not look to poach other big names.

That news might just afford one or two nervous sales and marketing directors looking to retain their stars a crumb of comfort.


Stockton’s remit widened in HBOS shake-up

Halifax General Insurance has today announced that its general insurance intermediary sales team is set to join forces with HBOS mortgage intermediaries. It will result in a larger sales force to provide advice on both mortgages and insurance products.Managing director of mortgage intermediaries Nigel Stockton will assume responsibility for the distribution of general insurance intermediary […]

Eastern promise

Matt Goodburn says fund firms are sticking with Eastern Europe and particularly Russia as they believe in the fundamentals despite recent downturns

Five years of New Star

New Star Asset Management celebrates its fifth birthday this week as one of the highest-profile fund firms, with 8.1bn under management through acquisition and aggressive expansion. Founder and chairman John Duffield talks to Money Marketing about how he has built up the business. Q: How different was setting up New Star compared with when you […]


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