Ed Heaven, a portfolio manager at Standard Life Wealth in London, is to join Montanaro Asset Management later this year.
Heaven will become a product specialist at the small-cap boutique, expanding a team of 28 that Montanaro believes is the largest dedicated European small-cap desk in Europe.
Before its acquisition by Standard Life Wealth in September last year, Heaven was an investment manager at Newton, where he had worked since 2009.
Separately to Heaven’s appointment, Montanaro has revealed that its head of investments Anna Lunden will succeed David Lindley as manager of its £197 million UK Smaller Companies trust from 1 October.
‘This has arisen largely because David would like to devote all of his time as an analyst within Montanaro,’ explained chief executive Charles Montanaro (pictured).
‘All Montanaro’s funds and mandates are managed through a team approach. As a result, returns are very similar for all strategies irrespective of the day to day manager.’
Over the past three years, the trust has returned 23.4% compared with 39.2% from its benchmark Numis Smaller Companies excluding Investment Trust index.
Montanaro confirmed that Lunden would also remain manager of the £47 million European MidCap fund.
Since inception in March 2012, this has generated 40.8% versus 36.8% from its STOXX Europe Mid 200 benchmark.