Andrew Vaughan has been appointed by Sanford DeLand Asset Management (SDL) as manager of the £6.9m Free Spirit fund, following the departure of Rosemary Banyard.
Vaughan joined SDL in 2017 as an investment research analyst on the Buffettology and Free Spirit funds, and has been contributing research ideas to the Free Spirit portfolio since soon after the fund's inception.
Alex Brotherston, chief executive of SDL, said: "Andrew's experience in ‘business perspective investing' is a great asset to SDL and bringing that long-term, buy and hold investing approach to Free Spirit is a natural progression for that fund as we continue to build out the investment capabilities at SDL."
SDL announced in April that Banyard, who was previously manager of the Free Spirit fund, which launched in January 2017, would be leaving due to "personal reasons" later this year.
Keith Ashworth-Lord, chief investment officer of SDL and deputy manager of the Free Spirit fund, added: "Andrew has been actively involved in research support for both the Free Spirit and Buffettology funds since he started working with SDL over two years ago. For example, the decision to invest in Relx and SSP were born of the fruits of his labour."
Vaughan said there are "some great opportunities to be found within the UK small and mid-cap space".