Ignis opens new fund of funds business

Ignis Asset Management has launched a new fund of hedge fund, fund of real estate, fund of private equity and retail multi-manager unit, worth £2.4bn

The new business unit that merges Ignis’ offerings will be headed up by Michiel Timmerman (above), former chief investment officer at Aberdeen Asset Management.

Timmerman previously managed the fund of hedge fund, private equity and long-only multi-manager businesses acquired by Aberdeen Asset Management from RBS’ asset management business.

He also co-founded Coutts’ fund of hedge fund business, acquired by RBS in 2004.

In his new capacity, Timmerman will maintain Ignis’ current products, but also aims to create new specialist products.

He said the newly-established unit will provide a multi-asset alternatives solution that combines hedge funds, private equity, real estate and long-only.

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