Carmignac announces the appointment of Jacques Hirsch to its Fund Management team
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Carmignac is pleased to announce the appointment of Jacques Hirsch as co-manager of the Carmignac Portfolio Patrimoine Europe fund, a flexible, socially responsible, mixed Europe allocation fund.
Jacques Hirsch will join on 3 July 2023 and be based in London. He will take over the responsibilities held until now by Keith Ney who has left Carmignac for personal reasons. Jacques will be in charge of managing the fixed income element, macro overlay, risk management and portfolio construction of Carmignac Portfolio Patrimoine Europe. He will also join Carmignac's Strategic Investment Committee, responsible for producing robust market convictions, as well as providing top-down macroeconomic analysis to the firm’s wider investment team.
Jacques Hirsch will join Carmignac from Ruffer, where he has worked since 2011, most recently as co-manager of a multi-billion AUM, flexible, multi-asset fund that is currently 5-star rated by Morningstar, top quartile over 1, 3 and 5 years and was top decile in 2022 . He has spent most of his career in the asset management industry and has worked for Goldman Sachs and GLG Partners. He is a graduate of the Ecole Centrale Paris and holds a Master's degree in mathematics from Oxford University.
In the interim period before Jacques’s arrival, the management of the fixed income element of Carmignac Portfolio Patrimoine Europe is entrusted to Marie-Anne Allier, an experienced fixed income manager and co-manager of the flagship Carmignac Sécurité fund since 2019. The equity element of Carmignac Portfolio Patrimoine Europe will continue to be managed by Mark Denham.
Carmignac Patrimoine will continue to be co-managed by Rose Ouahba, head of the fixed income team, and David Older, head of the equity team. The Strategic Investment Committee, which includes Rose and David, continues to provide inputs for portfolio construction and risk management purposes - a valuable support designed to incorporate a holistic 360-degree view and approach to both portfolio and risk management.
Edouard Carmignac, chairman and CIO of Carmignac said: “We are delighted to welcome Jacques Hirsch to Carmignac. He is an experienced portfolio manager who has demonstrated his ability to deliver strong performance throughout various market conditions, including the volatility of recent years. His arrival exhibits our continued ability to attract some of the best talent in our industry. I’d also like to thank Keith Ney for his significant contribution to the business and wish him all the best for the future.”
1 Morningstar, data at end of February 2023.