InvestmentsApr 10 2017

Beaufort appoints CEO as part of growth strategy

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Beaufort appoints CEO as part of growth strategy

Beaufort Investment Management (BIM) has appointed Stewart Murray as its first ever chief executive in part of a bid to grow funds under management to £2.5bn.

Murray will also serve as chief investment officer for the £670m funds under management that Beaufort currently holds.

Murray had shared the CIO role with Stephen Watson since he joined the fund management group in August 2016, but Watson now relinquishes this post, but remains a member of the investment governance committee and has been appointed a non-executive director of its parent company, the Beaufort Group.

Murray was previously head of equities at Rowan Dartington and has held a number of senior posts in investment management in Edinburgh and London, including at Munros Capital Management.

Murray saw his role as to broaden the scope of Beaufort's proposition.

"There are significant opportunities for a progressive DFM like ours," he said. "I have been most impressed with the robustness of the systems and controls and our investment process which has delivered a strong long-term track record of investing”.

Simon Goldthorpe, group chairman of the Beaufort Group added: “Stewart’s appointment and now promotion is a clear sign of the group’s determination to grow funds under management in a steady and measure way. Our ambition is to expand the range of funds and to have some £2.5 billion under management within five years."

Beaufort's funds under management are held in a range of 42 model portfolios.