Philbin has joined as a partner and takes on the £23m Elite Hasley Multi-Strategy Portfolio, replacing former manager Roderick Collins who has left the firm. Collins’ other funds, Best Ideas and Diversifier, will be managed by another new recruit Alastair George, previously of Goldman Sachs.
Philbin will take on three additional risk-rated multi-manager funds to be launched this autumn.
Jeremy Nunn, co-founder of Hasley, said: “We are going to have portfolios with different volatility bands quietly walking up the scale and within each of those bands he [Philbin] can invest in whichever asset class he feels is attractive, so long as the volatility stays within that band, so the investor can buy on a risk profile rather than a asset allocation profile.
“He does not want to be constrained, for example in the IMA Mixed Investment 20-60% Shares sector where you have to have 30% in fixed interest at all times. This might be absolutely the wrong allocation for a medium or cautious risk fund.”
Philbin has been managing multi-asset funds since 1994. His last City role was as chief investment officer at Architas before leaving at the end of 2010.
