The European asset management platform of Mediolanum Banking Group, Mediolanum International Funds Ltd (MIFL), has appointed Jonty Starbuck as a new Senior Equity Portfolio Manager within its Single Security Equity team, which is responsible for MIFL’s internally managed strategies. Based in Dublin, he will report to Terry Ewing, Head of Equities at MIFL.
Starbuck’s primary focus is on managing the firm’s Quality equity strategies. Equity investing with a Quality factor approach is based on a set of clearly defined fundamental criteria, which combines high returns on capital, low financial leverage and stable growth, and focusses on the fundamental drivers of business outperformance for companies.
Starbuck is also working closely with Terry Ewing and the equity team to help to define the company’s House view on equities, while providing input to MIFL’s Investment Committee on strategic and tactical portfolio positioning.
Starbuck has 20 years’ experience working in equity markets. He started his career in London at Morgan Stanley covering technology companies, followed by 10 years at T Rowe Price, a leading global asset management company, where he focussed primarily on consumer companies. He has spent the last five years at Davy Asset Management in Dublin where he was the lead Portfolio Manager of the Davy Global Brands fund.
Terry Ewing, Head of Equities at MIFL, says: “Jonty’s appointment is further evidence of our ambitions to build a world class equity business at MIFL. We have a team-based approach to equity investments at Mediolanum and our burgeoning equity business is composed of highly experienced portfolio managers. We pivot on individual portfolio management accountability, while leveraging on the equity team’s complimentary expertise and competencies, all the time applying a rigorous and disciplined investment process.”
“Our Quality strategy will complement other internally managed equity strategies, and we believe this investment approach will deliver consistent, superior investment performance over the long term. We are very much looking forward to Jonty helping us to manage this core investment strategy at MIFL and we are delighted to welcome onboard someone of his experience and track record.”
The appointment of Starbuck follows numerous business and investment hires made by the firm in the last six months, and follows recent Equity team hires including Terry Ewing, David Whitehead and Patrick McKenna.
While the group will continue to maintain long term relationships with best-in-class equity managers through its multi-management approach, the firm’s strategy is to diversify and grow its own direct investment capability – with the stated goal of managing at least 30 per cent of its total AUM internally within the next five years. This figure currently sits at 10 per cent.
MIFL’s stated plan is to continue to materially increase its employment base this year, in line with the past 20 years (circa 22 per cent CAGR).