Ignis Advisors, a multi-manager business unit established in November 2010, has recruited Aoifinn Devitt, principal and founder of Clontarf Capital, as Head of Client Strategies. Aoifinn was previously a specialist consultant at Cambridge Associates in London and Boston, and at Goldman Sachs. Aoifinn will be joined by two of her associates at Clontarf Capital, Javier Herranz and Cian O’Sullivan, who will further strengthen the investment team.
Aoifinn will be working closely with Claude Chene, Ignis Asset Management’s recently appointed Global Head of Distribution, to bring Ignis Advisors’ capabilities to a wider client base.
Ignis Advisors has also hired a Chief Operating Officer. Mark Long, who held roles as Senior Vice President Operational Due Diligence, European General Counsel and Head of Corporate Development at FRM, has joined with responsibility for Operational Due Diligence, Product Development and Operations. Andreas Schroeder, formerly of ABP, has joined as Head of Quant Analytics, responsible for risk modelling and quantitative asset allocation.
Michiel Timmerman, MD and CIO of Ignis Advisors, comments:
“Aoifinn has a great track record of delivering alternative investment solutions for institutional clients and we will now be bringing Ignis Advisors’ investment capabilities to her current clients and future relationships. We are very much looking forward to working with Aoifinn, Javier and Cian.”
“Mark’s extensive operational due diligence and legal experience at a leading institutional fund of hedge funds provides a major contribution to the institutionalisation of our business. Mark’s legal background is also important as we develop new products to meet our clients’ needs.”
Aoifinn Devitt comments:
“Over the past five years at Clontarf Capital we built a strong reputation as an independent voice in the dynamic landscape of alternative investing. We developed important institutional reach, successfully ran various investment solutions and created a culture of continuous evolution to match the changing needs of clients and best practice in the industry. As the world of alternative investing progresses and matures I have become convinced of the importance of critical mass and having a strong institutional organisation. Joining Ignis Advisors presents an exciting opportunity for Javier, Cian and I to continue the client-led and research-focused provision of alternative investment solutions to institutional investors, as well as enabling our client solutions to grow and expand their reach.”
Notes to editors:
Ignis Asset Management traces its roots back to 1899 and provides the stability of a well-capitalised investment business with some £76bn* in assets under management, c530 employees and a global presence distributing in the UK, Europe, the US and Asia. From this solid base, Ignis is seeking to build on its comprehensive fund range to develop new innovative products and services. As the asset management business of the Phoenix Group, the largest UK consolidator of closed life assurance funds, Ignis is well placed to make this step forward.
Performance, and the risk taken to achieve it, is at the heart of the business model. Ignis believes that entrepreneurial teams operating in standalone business units, but at all times within a rigorous risk framework, are best placed to meet, or exceed, clients’ performance needs. The business units are:
• Ignis Fixed Income – a large, experienced team, led by Ignis Chief Investment Officer, Chris Fellingham. It manages c£45bn**, split into key areas of expertise: rates, credit, liquidity, specialist fixed income and asset backed securities.
• Ignis Equities – the Ignis Equities team comprises five desks focusing on UK, US, Europe, Asia Pacific, Global and Emerging Market equities. The team is headed by Chief Investment Officer - Equities, Mark Lovett, and manages over £13bn** of assets.
• Ignis Real Estate – dedicated to actively searching out value in the commercial property market, focusing on quality rental income streams in order to generate solid returns. The team is headed by Gary Hutcheson, Managing Director of Ignis Real Estate, and manages approximately £2.4bn** in collectives including the Ignis UK Property Fund, the UK Commercial Property Trust, and segregated portfolios.
• Ignis Advisors – a specialist Fund of Funds team with capabilities spanning the alternative investments and retail multi-manager spectrum. The Advisors range includes a successful Fund of Hedge Funds, a Fund of Real Estate, Fund of Private Equity and Retail Multi-Manager capabilities. Managing approximately £2.4bn**, the Ignis Advisors team is led by Michiel Timmerman.
• Ignis Solutions – offers Asset Liability Matching (ALM) and Liability Driven Investment (LDI) plus Multi-Asset Portfolio Management solutions. The team address unique client requirements by solving complex risk/return problems, risk mitigation strategies and capital management.
• Ignis Partners – through joint ownership agreements, this unit provides entrepreneurial fund managers with the support of a large organisation through the early stages of their business development. Ignis partners include; Argonaut, European equity specialists; Cartesian, fundamental UK investors; Hexam, global emerging markets specialists; and Castle Hill, a specialist credit investment manager.
*Source: Internal at 31 March 11 (including £9bn of stock lending)
**Source: Internal at 31 March 11
Past performance is not a guide to the future. The value of units may go down as well as up, you may not get back your original investment.