Ashby joins former colleagues at Ignis
Former LVAM head of UK equities Graham Ashby has joined Ignis Asset Management to run its UK Equity Income fund.
He joins his former colleagues Mark Lovett, CIO for equities, and Mark Holden, manager of the UK Focus fund, who he worked with at Deutsche Morgan Grenfell and DWS Investments, respectively.
As a result Martin Brown, current manager of the UK Equity Income fund, is leaving the firm.
Ashby (pictured) joins Ignis on 14 March. He was previously head of UK equities at LV= Asset Management, overseeing £1.3bn of assets. LV= outsourced its asset management business in the summer of last year to Threadneedle and Ashby was among the managers who were out of a job as a result.
Before that he held brief stints at Credit Suisse, where he was head of UK retail equities, and Premier, and was also formerly head of equity income and UK equities at Sarasin Chiswell.
He also managed a number of UK equity income portfolios at Deutsche Morgan Grenfell / DWS Investments, including launching the DWS UK Equity Income Plus fund in February 2003.
The £90m UK Equity Income fund has returned 61.6% over the three years to 24 February, according to Morningstar, ranking it 55 out of 88 funds in the peer group.
This article was first published on Investment Week