Hemmings, currently head of closed-ended funds at the asset manager, has been a member of the AIC’s Managers Forum for several years and has been involved in a number of AIC working parties.
Andrew Bell replaces Sarah Bates as Chairman, while Bates and Melville Trimble have been re-elected to the board. Peter Arthur and David Thorpe will join existing deputy chairmen Gill Nott and Chris Russell, in the same role.
Hemmings said: “I am very pleased to join the AIC Board, at a time of significant change for closed-end funds. There are undoubtedly significant opportunities ahead as we broaden the shareholder base of the sector but, at the same time, investment companies face considerable regulatory challenges. I hope that my experience will contribute to the AIC’s efforts during this exciting period.”
Jeremy Tigue has retired from the board after nine years of service. He will continue to manage Foreign and Colonial Investment Trust.
