Ex-Ignis manager Ormiston joins Old Mutual Global Investors

Former Ignis manager Ian Ormiston has joined Old Mutual Global Investors to develop and run a new European Smaller Companies fund.

The manager (pictured) will report to OMGI head of equities Richard Buxton in his new role, with the fund slated for launch in Q4 2014, subject to regulatory approval. Ormiston's former Ignis European Smaller Companies fund returned 80.6% over the final three years of Ormiston's tenure, according to FE, compared with an IMA European Smaller Companies average return of 53.2%. In July Investment Week revealed Ormiston was unlikely to remain at Standard Life Investments following its takeover of Ignis, after the group hired former SWIP manager Andrew Paisley to run its own European small...