Aviva Investors' multi-asset team has suffered another departure following Marc Semaan's decision to become a strategist for boutique fund house Fulcrum.
Mr Semaan, who joined Aviva Investors as a strategist in late 2015 working on its Multi Strategy (Aims) and multi-asset funds, has taken up a 'similar role' and the same job title at Fulcrum. The firm said he will provide "further depth of resource" to Fulcrum's investment team.
The news follows last month's departure of Nick Samouilhan, who left to join T Rowe Price. He was co-manager of the firm's £2.4bn Aims Target Income product and a senior member of the firm's flagship team but will now re-connect with former Aviva Investors and Axa Investment Managers multi-asset head Yoram Lustig to develop the US firm's multi-asset franchise.
Fulcrum currently offers three strategies for retail investors having previously run multi-asset absolute return and hedge fund-esque strategies for institutional clients - somewhat akin to those run by the trio Aviva Investors, Standard Life Investments and Invesco Perpetual.
Chief executive Andrew Stevens said: "We continue to invest in attracting the highest calibre of investment professionals, believing that it is the intellectual rigour which we apply to asset allocation that sets us apart from our peers."