Carmignac Gestion has hired Emmanuel Litique as client development manager for Northern Germany as investors there continue buying into one of the French firm's strengths, of multi-asset investing, more than any other strategy.
Carmignac Gestion has hired Emmanuel Litique as client development manager for Northern Germany as investors there continue buying into one of the French firm’s strengths, of multi-asset investing, more than any other strategy.
The recruitment in Carmignac’s Frankfurt office is the fourth major hire it has made since opening the outlet in January.
Carmignac has hired an office manager, and two client development managers since opening for business in Frankfurt.
Investors in Continental Europe’s largest national fund market have shunned many asset classes this year, but the mixed asset expertise – of players such as Carmignac – seems still to be in demand.
Funds focused here have taken in €1.7bn this year to August, second only to bond funds, which took in €5.3bn. Flows have been meager into emerging markets debt (€700m), global equity (€200m) and EM equity (€100m), while investors withdrew €1bn from European equities funds.
Overall, Germans made net fund purchases of less than €360m in August, according to Lipper.
Carmignac said its latest recruitment “confirms its long-term commitment to this strategic market and strengthens its local presence through a tailor-made regional approach”.
Litique (pictured) will report to Kai Volkmann, the firm’s country head for both Germany and Austria.
Litique has worked for seven years at Morningstar in Frankfurt, where he graduated over time to head of sales for Germany, Austria and central and eastern Europe.
He also has sales experience from Feri Trust, Deutscher Investment Trust – now Allianz Global Investors – and Reuters AG.