Man Group has hired a portfolio manager as it looks to expand it multi-asset strategy business.
Teun Draaisma has joined the group as portfolio manager where he will work with Ben Funnell, head of the Man Dynamic Alpha team, to develop a new multi-asset strategy.
The new proposition will sit within Man Group’s central platform, Man Solutions.
Mr Draaisma joined Man Group from investment giant BlackRock where he spent almost six years as a global equity strategist, focusing on portfolio management and asset allocation.
Before that he was a portfolio manager at TT International and European equity strategy at Morgan Stanley, where he also worked with Ben Funnell.
Mr Draaisma has a master’s in Econometrics from Erasmus University in Rotterdam and studied at the ESSEC business school in France.
He said: "The breadth of strategies across Man Group presents a compelling opportunity to develop a differentiated multi-asset strategy for investors."
Multi-asset funds have grown in popularity as more investors look for a single solution for their portfolios, with the most recent figures from the Investment Association showing investors poured some £890m into mixed-asset funds in March alone.
Mr Funnell said: "Investors are facing an inflection point, where asset valuations are at multi-decade highs and the global risk-free rate has rarely been lower.
"In this environment, we believe a multi-asset strategy which seeks to dynamically allocate across asset classes has the potential to offer valuable diversification."
Robert Hardy, head of business development at Seven Investment Management, said: “It’s interesting to see Man Group increasing their multi asset resource in what is a well-established and competitive space, illustrating the role multi asset investing has to play in aiming to achieve consistent outcomes.
"Multi asset investing is far from an idea whose time has come – it has been at the heart of what we do since we set up 7IM 15 years ago.
"But that is not to say there isn’t space for more players."