Insight Investment multi-asset boss Mike Pinggera quits

The group has confirmed that Mr Pinggera has resigned from the firm with immediate effect and Steve Waddington, his co-manager, will remain at Insight.

The group said Mr Pinggera was leaving to “pursue other opportunities”.

It is understood that Mr Waddington is taking over Insight’s £132.3m Insight Diversified Target Return fund and £21.3m Diversified High Income fund. Mr Waddington is also expected to take over the £59.1m Diversified Dynamic Return fund, previously co-managed by Mr Pinggera, on a sole manager basis.

Mr Pinggera first joined Insight in January 2009 and was previously at Credit Suisse, where he was head of multi asset class solutions managing a team of 14 people.

Matthew Merritt, head of Insight’s overall investment strategy unit, said: “Insight has experienced significant growth in its multi-asset business. Mike made a meaningful contribution to our business over the last three years and we wish him well in his future endeavours.”