Premier Asset Management has hired Schroders manager Geoff Kirk as co-manager of the its Optimum Income portfolio, as current manager Chris Wright steps back from the fund.
Wright has managed the £85m Optimum Income since 2008 and will remain at the firm as manager of the Premier £141m Ethical fund.
Kirk joins Premier after spending ten years at Schroders where he was a fund manager in the structured fund management team and part of the team responsible for the Schroder Income Maximiser range.
He will join in July and will work alongside Chris White (pictured), head of UK equities and manager of the £396m Income fund, who is also being made manager of the Optimum Income fund.
Kirk will particularly focus on the total dividend management of the fund through a call option overlay strategy while White will work on the UK equity portfolio.
The Premier Optimum Income fund has returned 14.2% over one year to 30 March according to FE versus an IA UK Equity Income sector of 16.6%.
Mike O'Shea, chief executive of Premier, said: "The search for yield is an enduring investor theme and we believe that the Premier Optimum Income fund, paying an enhanced yield to investors through a mix of traditional company dividends and a well-managed options strategy, is well placed to help income-seeking investors.
"We are delighted Geoff is joining Premier and we are excited about the next phase for this fund under the co-management of Chris White and Geoff, with their strong track record of managing UK equity income funds and as an experienced structured fund management specialist."
Kirk said: "This enhanced income strategy offers investors the potential for a long term, sustainable higher income compared to other income investments. I look forward to being part of the fund management team, working closely with Chris White, focusing on delivering good enhanced income outcomes for our clients and growing assets in this strategy."
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