Reporting to head of equities, Richard Buxton, Ormiston’s will manage a similar vehicle to his Ignis European Smaller Companies fund, which he ran with some success prior to the firm’s acquisition this summer by Standard Life.
In the three years to Ormiston’s departure in late August, the Ignis fund achieved 81% return, compared to 53% return from the IMA European Smaller Companies sector, according to FE Analytics.
OMGI’s 16-strong UK and European equities team currently runs over £4.8bn of assets under management. Most recently, it was announced that UK specialist Ashton Bradbury is to retire at the end of this year.
The team also includes the specialist European large-cap equities capabilities of Kevin Lilley and UK Small and Mid-Cap equity skills of Dan Nickols, Luke Kerr and Richard Watts.
Buxton said: “Ian brings a wealth of industry knowledge having spent over 20 years investing in UK and European markets. His experience and skills will greatly complement those which we currently have in my team.”
