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Ignis plots new credit, equity funds of funds

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Ignis Asset Management, a division of UK insurance giant Phoenix Group, is seeking senior hires for the new funds.

Ignis Asset Management, the asset management division of UK insurance company Phoenix Group, is seeking three senior hires to launch and oversee two funds of funds, which will focus on equity and credit managers. The launch of those funds would mark the first time that Ignis has opened to outside investors. The hires would also be responsible for the firm’s existing equity, credit and fixed income strategies. Ignis has two funds of funds that manage $1.8 billion of Phoenix’s assets.

The new hires will report to Michiel Timmerman, who joined Ignis in January 2011 as chief investment officer