The pair will report to Sarasin’s head of asset management, David Allen and will manage a combination of segregated and pooled mandates for the firm.
When they arrive in November, Steele will become co-manager on the firm’s Global Dividend and Global Higher Dividend funds alongside Darryl Lucas, while Mitchell will be a co-manager with Jennifer Ramsey and Phil Collins on the firm’s UK mandates work.
Before moving to Sarasin, Steel was an investment director in charge of global equity selection for the COIF and CBF multi asset Common Investment Funds at CCLA, a role he held from June 2010. Prior to that he worked at Adam & Co, which is where he first worked with Mitchell, Sarasin said.
Mitchell, who has been in the industry for seven years, was, most recently, a global equity manager at CCLA, where he worked on a range of UK and global equity portfolios.
Sam Jeffries, partner at Sarasin & Partners cited the pair’s strong track record as reason for the hires. Adding that the pair’s experience managing higher yielding equity portfolios should help the firm maintain its strong performance record and “further broaden the appeal of our funds to a wider range of investors.”
