James Elliot lands at Investec AM after JPMAM exit

Multi-asset manager expected to win over new adviser business

Former JP Morgan Asset Management multi-asset manager James Elliot is expected to help Investec Asset Management gain a greater foothold with advisers as he jump ship.

Elliot (pictured) will become head of the fund house’s £19.4bn multi-asset from July 2019. Investec AM’s press release about the appointment said he would be responsible for launching new strategies on top of looking after the existing outcome-orientated range.

He will report to co-chief executive Domenico Ferrini.

Tilney managing director Jason Hollands said the move was a loss for JPMAM, which already suffered the exit of Talib Sheikh in 2018. Sheikh, who had been with JPMAM for two decades, joined Jupiter in June and launched a multi-asset fund in September.

Hollands added: “For Investec it is undoubtedly a significant hire, that should help open new doors for them with advisers and I also expect new products to follow in due course,” Hollands said.

‘No man is an island’

At JPMAM, he founded the Global Macro suite of strategies. He was responsible for all portfolio management and investment specialist teams in London and Asia.

His exit from JPMAM came six weeks after he landed his first FE Alpha Manager award, which ranks the top 10% of UK retail-facing managers based on their performance throughout their careers.

The Adviser Centre immediately removed the £1.5bn JP Morgan Global Macro Opportunities fund from its recommended list when Elliot’s departure was announced. Research director Gill Hutchison said at the time that “Elliot’s own views and interpretations have had a significant influence on the fund and hence the outcomes experienced by investors”.

The Adviser Centre chief investment officer Peter Toogood said he is a good hire into an expanding franchise. “However, ‘no man is an island’ and we await with interest to see how he will shape the offering at Investec.”

Shrenick Shah was promoted to lead manager on the JPMAM fund, while Rob O’Rahilly, co-head of multi-asset solutions, took on Elliot’s international investment oversight responsibilities.

JPM Global Macro Opportunities performance

3m6m1yr3yr5yr
JPM Global Macro Opportunities0.812.83-2.0410.7640.62
IA Targeted Absolute Return sector1.47-0.24-0.844.307.55
Libor GBP 1 Month0.180.360.661.372.40
Source: FE Analytics

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