Artemis has appointed Alex Stanic to the newly created position of Head of Global Equities, following the decision by global equity fund manager Simon Edelsten to retire from the firm.
Edelsten, 61, who manages the Mid Wynd International Investment Trust and the open-ended Artemis Global Select Fund, will leave the fund boutique and retire as an Artemis partner at the end of 2023.
To ensure a smooth handover, Edelsten will continue managing the funds alongside Stanic, who joins from JP Morgan Asset Management’s international equity group on March 1st. Stanic spent seven years at JP Morgan, where he led on the global equity funds in the Global Specialist team, including the Global Unconstrained Equity Fund. Prior to that he was head of global equities at River & Mercantile, a division he set up in 2009.
Alex Illingworth – who co-manages the Mid Wynd and Artemis Global Select vehicles with Edelsten – will leave Artemis at the end of this month.
The firm expects to announce shortly the appointment of two other new members of the global equity team. They will report to Stanic and work across the two portfolios and other global equity mandates alongside analysts Bobby Powar and May Laghzaoui.
Paras Anand, Artemis’ CIO, said:
“Simon Edelsten and Alex Illingworth are widely and rightly respected for the job they have done in the past 12 years at Artemis. They have delivered outstanding long-term returns for client portfolios and grown the size of the Mid Wynd and the Artemis Global Select funds substantially.
“Alex Stanic is an experienced manager and has managed institutional mandates with similar objectives of prudent growth to those applied to the Mid Wynd and Artemis Global Select funds. He and his new team will bring additional insights and expertise to the business while also leveraging the research and stock-picking skills of the wider Artemis equity teams to ensure investors continue to be served well.”
Stanic, who has 28 years’ experience, said:
“I’m very excited to be joining Artemis and developing the business’s global equity capabilities even further. Simon and I have very similar investment styles and like many of the same stocks, so I’m looking forward to working with him over the next few months before fully taking over Simon’s fund management responsibilities.”
“I’ve been lucky to enjoy the support of Artemis over the past 12 years, building a global equity business, and I’m confident the firm will continue to grow and evolve without losing its focus on delivering exemplary investment performance and service.”