Amati Global Investors has hired Saracen Fund Managers’ Scott McKenzie as a portfolio manager.
McKenzie (pictured) joins Amati’s investment team working with Paul Jourdan, David Stevenson, Anna Macdonald and Gareth Blades across the TB Amati UK Smaller Companies fund, Amati AIM VCT plc and the Amati Aim IHT Portfolio Service.
McKenzie, who has more than 20 years’ UK equities experience, was previously head of research and fund manager on the TB Saracen UK Alpha and TB Saracen UK Income funds. He joined the firm in 2014 and launched the UK Income fund before being appointed as manager on the UK Alpha fund in June 2017. He left Saracen at the end of March.
Both funds are top quartile over one, three and five years. The UK Income fund has returned 17% over the past three years, compared with the IA UK Equity Income sector average of 8.7%. The UK Alpha fund has returned 30% over the past three years compared with the IA UK All Companies sector average of 14.9%.
McKenzie’s co-manager at Saracen, David Clark, who has 25 years of experience in asset management, remains responsible for the two UK funds.
Saracen Fund Managers chief executive Graham Campbell said: “There will be no change to the funds’ objectives or the investment process. It has been a pleasure working with Scott since he came on board in 2015 and we thank him for everything he has contributed at Saracen.”
McKenzie started his career at FS Assurance in Scotland which became Ignis Asset Management. After that, he ran funds at Aviva Investors in London before returning to Scotland to work at Martin Currie in Edinburgh.
Jourdan said: “We have known Scott for many years, have always held him in the highest regard, and are delighted that he has agreed to join us. He comes with a proven track record and adds considerable weight to our investment management resource at a time when we are experiencing considerable growth.”
McKenzie said: “[Amati] is a business I have followed and admired for some time now and I look forward to helping the team build upon the considerable progress they have made in recent years.”
Saracen equity funds performance versus sector
| 1m | 3m | 6m | 1yr | 3yr | 5yr | 10yr | |
| TB Saracen UK Alpha B Acc in GB | 4.24 | 8.15 | 40.19 | 75.04 | 29.91 | 62.75 | 158.87 |
| IA UK All Companies TR in GB | 3.47 | 4.39 | 21.55 | 42.49 | 14.85 | 42.03 | 92.68 |
| TB Saracen UK Income B Acc in GB | 2.64 | 8.83 | 37.41 | 61.31 | 17.00 | 43.94 | |
| IA UK Equity Income TR in GB | 3.34 | 4.70 | 22.50 | 36.76 | 8.67 | 28.20 | 86.76 |
