Paris-based Carmignac has poached Ruffer fund manager Jacques Hirsch to co-manage the €719 million Carmignac Portfolio Patrimoine Europe fund, a pan-European equity strategy.
Hirsch will join the firm in July 2023 and is taking over from Keith Ney, who has left the firm for personal reasons after 17 years.
Hirsch has worked at Ruffer since 2011, most recently as co-manager on the firm’s multi-billion flagship multi-asset range.
In the interim, before his arrival, the fund will be managed by head of European equities, Mark Denham and fund manager Marie-Anne Allier.
Rose Ouahba and David Older, heads of the firm’s fixed income and equity teams, respectively, will also manage the fund.
Hirsch’s hire is the latest in an ongoing recruitment drive from the French asset manager. In January, the firm appointed Lloyd McAllister as its head of sustainable investments and in May 2022, the firm hired Jean-François Louvrier from Pictet Asset Management as a portfolio manager for global long-short equities.
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