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The new products are set to launch in October and will include a long-only Oeic for the retail market, and a separate global mandate for institutional clients.

The new EAFE fund will be aimed at US-based institutional clients, although it will also be available to European professional investors.

Sven Kuhlbrodt, marketing director at JOHCM said: "Like the rest of our funds, the new products will have one core strategy, but will also have slightly different packaging so the manager can remain focused and not get distracted."

Richyal will join JOHCM on 16 June and will begin setting up the strategies in advance of Chris Lees joining in September.

JOHCM poached Lees this April (see previous story) from Baring's where he and Richyal were the portfolio management team behind a Global and EAFE proposition.

Both men have been working together the last seven years as well as taking on separate mandates, with Richyal in charge of the $1.2bn (£613m) Latin America fund and Lees heading up the £18m Global Select fund and £32m North American fund.

A spokesperson for Barings said that Richyal had left in April when Lees departed the company and that plans had been in place for the last few months as to who was taking over his responsibilities.

James Syme, manager of the £22m Global Emerging Markets fund, has taken over the management of the Latin America fund.

For further information see next week's edition of Investment Adviser (16 June).