Premier Asset Management has appointed Michael Jennings as senior investment manager of global equities.
Premier will launch a global absolute return fund for Jennings to manage, which Premier expects to take advantage of the wider investment tools available under UCITs III legislation.
Simon Weldon, managing director of sales and marketing at Premier, says the fund responds to “a thirst at the moment for lower volatile portfolio management”.
The fund adds to Premier’s existing £55.39m low volatility fund, the Premier Absolute Growth fund, launched in 2001.
Jennings will join Premier on March 3 from Morley Asset Management where he worked as senior fund manager and head of global equities for almost six years.
Before Morley he worked at Sarasin Chiswell as director and senior fund manager for more than 12 years.
Weldon says the company hopes more managers “known in the industry” will join this year.
He says: “If you can attract someone from one of the major groups and offer them some equity participation, that’s what it’s all about. We want to build up our specialist fund management team.”
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