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Who’s Moving Where In Wealth Management? – Saffery Champness, Carmignac

Editorial Staff

4 April 2023

Saffery Champness 
Accountancy firm has appointed Jacques Hirsch as co-manager of the Carmignac Portfolio Patrimoine Europe fund, a flexible, mixed Europe allocation fund.

Hirsch, who will be based in London, will be joining the firm in July. He will take over Keith Ney's responsibilities, who has left Carmignac for personal reasons, the firm said in a statement. Hirsch 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.

Hirsch will be joining 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 one, three and five 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, the firm continued. 

In the interim period before Hirsch's arrival, the management of the fixed income element of Carmignac Portfolio Patrimoine Europe is being entrusted to Marie-Anne Allier, a fixed income manager and co-manager of the flagship Carmignac Sécurité fund since 2019, the firm said. 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.  

Welcoming him to the firm, Edouard Carmignac, chairman and CIO of Carmignac said: “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.”