Marlborough Fund Managers has added a third co-manager on its Extra Income fund with the appointment of Andrew Moffat.
His appointment follows the £58 million fund’s move at the start of May from the IA UK Equity & Bond Income sector to the Mixed Investment 40-85% Shares sector.
Moffat (pictured) has almost 30 years’ investment experience and previously managed the Royal London UK Growth Trust from 2011 to 2016 and, before that, the CIS UK Income with Growth Trust.
He has also held roles at Equitable Life Asset Management and Confederation Life.
Moffat joined Hargreave Hale, which acts as investment adviser on the Extra Income fund, last year.
Wayne Green, joint managing director of Marlborough Fund Managers, said: ‘With his impressive fund management pedigree and a particular strength in macroeconomics, Andrew will add further experience and expertise to the fund’s first-class investment team.
‘His appointment comes at an exciting stage in the fund’s evolution. The sector move broadens the range of assets in which it can invest, while also bringing the fund into a higher-profile sector, where it will be on the radar of more investors.’