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Ignis creates £2.4 billion Advisors business

• Michiel Timmerman to join Ignis from Aberdeen Asset Management to run new business unit.

Ignis has launched Ignis Advisors, a £2.4 billion* business unit that combines its successful fund of hedge fund, fund of real estate, fund of private equity and retail multi-manager capabilities.

Ignis has recruited Michiel Timmerman to the role of Managing Director and Chief Investment Officer (CIO) of Ignis Advisors. Michiel’s primary objective will be to grow the business unit substantially and to build upon the strong foundations of each of its capabilities.

Michiel joins Ignis from Aberdeen Asset Managers, where he was Chief Investment Officer of the former RBS Asset Management fund of hedge fund, private equity and long-only multi-manager businesses that were acquired from RBS in February 2010. Michiel, who holds a D. Phil. from Oxford University, was co-founder of Coutts’ fund of hedge fund business, which was acquired by RBS in 2004.

Chris Samuel, Chief Executive, Ignis Asset Management, says:

“Consolidating our fund of hedge funds, fund of real estate, fund of private equity and multi-manager capabilities into a single business unit will provide our investment professionals with additional resource and an even greater focus.

“I am delighted that Michiel, who has vast experience of running large and successful advisory businesses at Aberdeen, RBS and Coutts, will be joining Ignis to drive this key business unit forward.”

Michiel Timmerman, Managing Director and CIO, Ignis Advisers, says:

"I look forward to delivering long-term investment performance in partnership with clients.  Ignis Advisors’ team and stable assets provide an excellent platform from which to do so and to grow the business substantially. 

"I believe that while Ignis Advisors’ current products remain the core of the business, current markets present opportunities to add value to clients by introducing new, specialist products, as well as providing a multi-asset alternatives solution which uses our expertise across hedge funds, private equity, real estate and long-only. 

"Ignis Asset Management’s ambitious plans, entrepreneurial approach and commitment to delivering the resources to achieve success provide an excellent environment to grow a business and were a real incentive to join Chris Samuel and his team."

* Source: Ignis, October 2010