Simon Edelsten, manager of the Mid Wynd International Investment Trust and the Artemis Global Select Fund, will retire at the end of the year, with fellow manager Alex Illingworth leaving at the end of February.
Artemis has filled the vacancy left by Edelsten’s departure by appointing JP Morgan’s Alex Stanic to the newly-created role of head of global equities.
To ensure a smooth transition, Edelsten will continue managing the funds alongside Stanic (pictured) when he joins on 1 March. Stanic has spent the last seven years at JP Morgan, where he led on global equity funds in the Global Specialist team.
Prior to that he was head of global equities at River and Mercantile, a division he set up in 2009.
Illingworth, who co-manages the Mid Wynd and Artemis Global Select vehicles alongside Edelsten, leaves after 12 years at the firm.
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.”
Anand described Stanic as an experienced manager, and said he and his team would bring additional insights and expertise to the business.
Artemis also expects to announce two further appointments to the global equity team in the near future. They will report to Stanic and work across the two portfolios and other global equity mandates alongside analysts Bobby Powar and May Laghzaoui.
The personnel changes do not concern Fundcalibre, however, which will continue to give the Mid Wynd trust an Elite rating.
Chris Salih, investment trust research analyst at the firm, said: “Whilst it is a shame to see Simon depart the franchise after such an excellent career, Artemis has brought in an experienced name in Alex Stanic, who has produced strong returns in his time as manager of the JPM Global Unconstrained Equity fund.
“The fact that Alex has a similar style of investing – albeit with lower turnover – coupled with a 10-month handover period with Simon on both the Global Select fund and Mid Wynd trust, should offer investors some reassurance of an orderly transition.”
