GLG has hired Matterley co-founder Henry Dixon to strengthen its UK equity team, Wealth Manager can reveal.
AA-rated Dixon (pictured) will continue to run the flagship Matterley Undervalued Assets fund for its parent group Charles Stanley after the group agreed a revenue sharing deal. Assistant fund manager Jack Barrett and analyst Alice Sharp will move across with him.
The £75 million fund has a loyal following due to its strong performance track record.
It is top quartile over one, three and five years, helping Dixon to achieve a continuous Citywire rating for the last three years.
Over three years to 9 September, the fund has returned 59.5% compared to the IMA UK All Companies sector average of 40.9%. Over five years it is up 85.6% compared compared to the peer group’s rise of 51.2%.
Dixon and Godber jointly managed the fund from launch in August 2008 until Godber left to join MAM Funds last September, taking analyst Georgina Hamilton with him.
Richard Phillips, head of UK retail at GLG's parent Man Group, said: 'Henry has proved over a number of years what a talented fund manager he is and his consistent first quartile performance in a very large and highly competitive sector speaks volumes about his ability, process and approach. GLG is a place where talented and independent thinkers operate in a collaborative environment, unconstrained by a house view.'
Dixon added: 'GLG is a performance focused business with incredible depth across its investment teams. Having the opportunity to work alongside some of the best managers in the industry is hugely exciting and I look forward to helping the UK equity team continue to deliver for investors over the coming months and years.'