Mark Tyndall and Adrian Paterson are to run the Artemis and ABN Amro UK Growth funds as a team. P...
Mark Tyndall and Adrian Paterson are to run the Artemis and ABN Amro UK Growth funds as a team.
Paterson, who signed with Artemis at the end of last week, is to be the named manager on the £21m Artemis fund, while Tyndall will head up Nigel Thomas' ABN portfolio. Following completion of the merger between ABN and Artemis, Thomas' fund is to be run as a large-cap growth product. The existing Artemis fund, currently managed by Tyndall, will be managed as a multi-cap UK growth portfolio.
The group has said the decision has yet to be finalised as to the lead managers, however Paterson's previous experience at Jupiter was predominantly in the mid to small-cap arena.
Paterson starts work with the group, which is to be called Artemis after the merger, this week.
Nick Wells, communications director at ABN Amro, said: 'Paterson has been out of the market for 18 months, however it won't be take long for him to get his feet under the table. His expertise in the mid-cap arena compliments what we have already got in large and small caps.'
The appointment of Paterson brings the group's UK equities team up to seven people. Wells said Paterson fits into the Artemis mould of managing money rather than managing people, which he said is a crucial element in the group's philosophy.
Paterson joined Jupiter in 1993 as UK specialist, after working with Paris stockbrokers Finacor Actions et Derives.
His speciality has been predominantly UK smaller companies, with an emphasis on growth investing, and at Jupiter he managed Undervalued Assets, now run by Edward Bonham Carter, the Primadona Growth Investment Trust, Jupiter UK Growth Exempt Fund, the UK Smaller Companies Fund and several pension accounts, totalling £800m. He left the group in 2000 to go travelling but has remained a director of Primadona. The £38.3m investment trust has been through two managers since Paterson left. It was originally taken over by Justin Seager, who was replaced on the trust earlier this year by Paul Sheehan, following poor performance.
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