LV=’s Ashby to replace Brown on Ignis UK Equity Income

Ignis Asset Management has recruited LV= manager Graham Ashby to run its £90.6m equity income fund when the current manager leaves the business.

Graham Ashby
Graham Ashby

Ashby will replace Martin Brown at the helm of the Ignis UK Equity Income fund on March 14. Brown is set to leave Ignis this year, although his departure date could not be confirmed.

Last month, the portfolio was placed Principal Investment Management’s ’Black List’ of consistent underperformers.

The most recent factsheet shows the fund as being fourth quartile over one and three years to January 31 and third quartile over five years. Recent performance is somewhat better, with the fund sitting first quartile over three months. (article continues below)

Ashby joins Ignis from LV=, where he was head of UK equities and ran the LV= Equity Income fund. Prior to this, he was head of UK retail equities at Credit Suisse Asset Management and head of equity income and UK equities at Sarasin Chiswell.

Mark Lovett, chief investment officer for equities at Ignis, says: “Graham is a manager of the highest calibre and his appointment is indicative of our ongoing commitment to the Ignis UK equity offering.”