The SIG team has appointed Cédric de Fonclare, manager of the £586m Jupiter European Special Situations fund as well as other European equities offerings, and Mandarine Gestion’s Marc Renaud, bringing the EBI team up to ten managers.
First Private’s Tobias Klien, meanwhile, will no longer manage a mandate on the fund. SIG says that ten managers represents the “maximum level of diversification for the fund”.
“Marc Renaud is a value investor whose focus is on contrarian mean reversion opportunities. While the turnover of names tends to be low Renaud – who has nearly 30 years experience as an asset manager – is very active trading in the names he holds to exploit shorter term market movements along the way,” said Freeman-Shor.
“Cedric on the other hand has over the past ten years successfully applied a core/satellite approach to investing that has led to consistent outperformance through various market environments.”
SIG previously handed a £67m mandate in its £1bn Global Dynamic Equity Fund to Renaud, the founder of Mandarine Gestion, earlier this year.
