Former head of distribution at Ardevora Hugh Rittner will join Chikara Investments’ business development team, as part of the firm’s ongoing plans for expansion.
Rittner, who previously spent nine years at Ardevora Asset Management before leaving last August, joins three months after Chikara launched its Global Emerging Markets Opportunities fund for former Stewart Investors’ fund manager Jonathan Asante and his team. Chikara now offers five open-ended funds to UK retail investors, including Chikara Japan Income and Growth and Chikara Asian Evolution, as well as the closed-ended CC Japan Income & Growth Trust.
During his time at Ardevora, which closed its doors to external investor money earlier this month, Rittner helped to grow the firm’s assets from $1bn to $14bn at its largest point. He worked with institutional clients across Northern Europe, South Africa, Japan, Canada and New Zealand, among other regions.
In his new role Rittner will work alongside James Cameron and Alvin Lizarondo, who service UK clients, as well as Evan Eads, who joined Chikara last October to manage the US market alongside CEO James Tollemache.
Prior to his time at Ardevora, Rittner spent five years at Old Mutual Asset Management as the institutional business director for Northern Europe. He has also held sales and marketing roles at Principal Global Investors and Fidelity.
On his appointment, Tollemache said: ““Over the past 18 months, Chikara has continued to evolve as a contemporary institutional asset management organisation with a focus on long-term success and a partnership-driven culture. Hugh’s joining further validates our capabilities and long-term approach.”
Rittner added: “I believe that talented fund managers can deliver for clients when given the right environment. Chikara stands out as a firm that fosters such an environment, ensuring excellent client outcomes through its specialist teams – a viewpoint shared by many with whom I spoke before joining. I am thrilled to join and can’t wait to get started.”