As part of the ongoing recruitment drive, Carmignac Gestion has boosted its fund management team with the arrival of a senior fund manager, David Older.
Older, who will work in London alongside Edouard Carmignac (pictured) commencing 1 July, will be in charge of global fund exposure to Communications, Media, Internet and Information Technology. He will also contribute to generating investment ideas for other Carmignac funds.
Carmignac says: "Thanks to David Older joining our team alongside our analyst Tim Jaksland, we are significantly increasing our investment expertise in Communications, Media, Internet and Information Technology stocks, four key sectors in our current positioning that will shape tomorrow's world. We are also gaining considerable experience in alpha generation and long-short management, which will help us generate performance under all market conditions and give us the complete range of risk management expertise.
The ability to manage market risks has become a hallmark of Carmignac's management style, particularly in 2002, 2008 and 2011 in Carmignac Patrimoine. This risk management culture has gradually permeated all the Carmignac family of funds, becoming an integral part of our brand, henceforth Carmignac Risk Managers. The complexity of financial markets is such that managing risks, now more than ever, represents a vital aspect of long-term asset management, aimed at helping our clients grow their savings. Carmignac is relentlessly endeavouring to enhance its expertise in this area."
Older, 45, spent the past 12 years at SAC Capital/Point72 Advisors in New York, most recently as co-Sector Head of the Communications, Media, Internet and Technology vertical. Prior to this, Older was an Investment Banking Associate in the Communications and Media group at Morgan Stanley. He gained an MBA at Columbia University, New York, following a BA from McGill University in Montreal.