European fund management giant Carmignac Gestion is expanding its UK hub after moving a senior investment manager over to the London office.
Carmignac Gestion investment committee member Jean Medecin will move to the London office on 1 February. His responsibilities include presenting the house view to clients and the media. The move comes after the firm replaced its London-based European equities team.
The move follows the group's Paris conference which ran this week. Founder and chairman of the group Édouard Carmignac set out his vision for the business and also talked about plans to find his own successor.
He said he will be looking for a replacement to succeed him in the next “three to five years”. The firm also plans to rebrand to the shortened name Carmignac.
Turning to markets, Carmignac said there should be a renewed focus on protecting capital now, adding that “Risk management is becoming crucial in our business.”
However he acknowledged the impact this can have on returns, noting clients did not always understand why a fund has lagged the index if it has used a more defensive strategy.
Also speaking at the conference, the firm’s UK managing director Maxime Carmignac gave a nod to advisers in the UK, noting with such a wide range of funds to pick from - and changes to the fee structure of funds - investors needed guidance.
“With fee changes and the regulatory environment today, advice is even more important," she said.
