Boutique investment house Downing Fund Managers has appointed Andrew Vaughan (pictured) to manage the £48.1m VT Downing Unique Opportunities Fund.
He reunites with Rosemary Banyard, with the pair having previously worked together at Sanford DeLand.
Vaughan took over from Banyard in managing the CFP Free Spirit Fund following her departure from Sanford in 2019. He then exited the firm in 2021.
Banyard said: “Andrew has over 20 years of experience in the industry and proven stock-picking abilities. He will generate new ideas as we grow our assets under management, but also challenge our existing positions in Downing Unique Opportunities.
“We share a common philosophy and investment style which focuses on very good quality businesses with strong finances, superior returns on equity and demonstrable barriers to competition.”
The VT Downing Unique Opportunities Fund invests in UK companies across a broad market-cap spectrum but with a focus on UK mid and small caps, including the Alternative Investment Market.
Since launching during the Covid pandemic in 2020, the strategy has returned 43.6%, compared to its IA UK All Companies TR Index of 49.8%.