Responsible investor CCLA Investment Management has hired Ben Funnell as head of investment solutions.
Funnell (pictured) joins from Man Group, where he was chief equity strategist and then portfolio manager on several equity and multi-asset strategies, including the Man Balanced Managed fund. Prior to this, he spent 11 years at Morgan Stanley.
He will guide CCLA’s investment strategy, including setting its approach to asset allocation. Reporting to chief executive Peter Hugh Smith, he will also sit on the firm’s executive committee.
Tim Matthews, interim head of investment solutions, will return to his previous role as director of investments, which will now encompass management of CCLA’s cash and property teams, as well as alternatives and discretionary clients.
Funnell’s appointment marks the final piece of the restructure of CCLA’s investment team around three pillars – investment solutions, sustainability and investments.
Over the past year, the asset manager has been looking to expand its reach beyond its not-for-profit client base of charities and religious organisations and push into the UK intermediary market under JP Morgan Asset Management and Artemis sales vet Jasper Berens.
Funnell said, over the past decade, CCLA had “delivered excellent returns” by understanding long-term secular trends and “outstanding stockpicking abilities”.
“I have always wanted to work in an endowment environment with its longer time horizon, and with CCLA’s plans to expand into the UK’s retail investment market, it is an exciting time to be joining.
“I look forward to working with Peter, Tim and the wider team to ensure we continue to serve CCLA’s growing client base and deliver the long-term value they expect.”
