Latitude Investment Management has hired Mike Totton as a senior analyst for its investment team.
Totton joins the Odey Asset Management-backed boutique from Liontrust Asset Management amid a further shake-up of its equities desk. He transferred to the business after it acquired Majedie Asset Management earlier this year.
At Majedie, he was a co-manager on the UK Focus fund and UK Income fund alongside Mark Wharrier. Following a run of poor performance, Wharrier exited the business and the mandates were taken over by Majedie founder Chris Field, who continues to manage them at Liontrust.
Totton will work across both the multi-asset Latitude Horizon fund and newer Latitude Global fund.
Latitude was founded by Freddie Lait (pictured) in 2016 after being spun-out of Odey AM. The London boutique currently has £400m in assets across its two funds that are managed by CIO Lait.
Lait said the group was attracting “significant new client assets” following bumper performance from its strategies.
Its flagship Latitude Horizon fund has returned 42.1% since launch in 2016, according to data from FE Fundinfo. Latitude Global, which launched in September 2020, returned 27.8% last year. Year-to-date, it is up 1.8% while Latitude Horizon is down 1.1%.
“Independent fund management boutiques offer the ideal environment for investors who seek to outperform the market,” said Lait.
“Investing away from the crowd and avoiding institutional ‘asset gathering’ to focus on performance drives our team, and we are delighted to have Mike joining us.”
See also: Freddie Lait: Fund managers have become hyper-focussed on ‘quality growth’