Sun Life of Canada Asset Management (SLCAM) is planning to beef up its fund management capacity wi...
Sun Life of Canada Asset Management (SLCAM) is planning to beef up its fund management capacity with a number of high profile appointments.
The recruitment drive, which is the brainchild of managing director Ian Fishwick who took on the role last year, began earlier this month with the appointment of Charles Brand as head of global equities, a newly-created position.
According to Fishwick, Brand will provide a central point of reference for the fund management team.
Brand said: "I am currently conducting a skills audit in order to find out the strengths and weaknesses of the department. So far, the picture has been a good one, there is a strong team in place already which I believe will only take minor adjustments to make it how I want it."
His initial responsibility will be to develop a process of stock selection which can be used as a template for the fund managers.
Brand said: "I am assessing their successes and failures in stock-picking terms, analysis of this will help me to build a base for an organised investment process."
Brand also believes a more macro-oriented approach would be beneficial.
He said: "I would like to introduce a top-down aspect to the stock selection which will help the managers to consider stocks not just in terms of individual quality but with regard to the bigger picture as well."
Brand will not run money directly at first, although Fishwick said he was likely to assume responsibility for a fund once he was settled into his new role.
Brand was previously employed as head of global equities at Morley Fund Management until his departure in September.
His area of expertise is US equities, and primarily pension and life funds.
Fishwick, whose background is as a fixed interest manager, plans to expand the fund management team further and is looking to recruit a US and European fund manager by the end of the year. SLCAM is also looking to recruit a fixed interest fund manager.
Fishwick is planning the launch of a number of funds, most of which he said should be up and running within 18 months.
He added: "The reason we are recruiting with such enthusiasm is so that we can increase the capacity of our fund management teams, this should pave the way for expansion of our funds under management in the future.
"I think it is important not to start launching funds and increasing the burden on the fund managers until you have increased the skills base on which your growth is based."
Support for the fund management team is also being boosted.
Fishwick is currently looking to recruit an attribution analyst. A number of candidates are being considered and he is confident one will be appointed.
This position will provide feedback to the fund managers over specific parts of the portfolio and the impact they are having on its performance and characteristics.
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