Bambos Hambi to head up new 'multi-manager' team as SLI unveils details of MyFolio

The Edinburgh-based fund management group revealed that Hambi will have overall responsibility for the portfolio management of the 15 funds in its MyFolio proposition.

MyFolio is SLI's new range of so-called multi-manager funds, which launched last October but has already attracted assets of 100 million.

Hambi was previously head of multi-manager at Gartmore, where he was in charge of some 500m of investments until his departure in 2008. Gartmore has since been taken over by Henderson following a crisis-hit 2010 in which investors withdrew some 7.2 billion from its funds.

Almost 99 per cent of Gartmore shareholders yesterday voted in favour of the 355m takeover, which is set to be rubber-stamped next month.

Hambi will report to Rod Paris, head of investments at SLI, who said: "This is a relatively new area for us, having launched the operation only last October.

"In that short time we have already managed to capture a noticeable share of the UK fund of funds marketplace by providing an excellent suite of risk based products that will fit well into the post-retail distribution review world."

Paris said the MyFolio fund range, currently available only on Standard Life platforms, will appear on several third-party platforms from next month.

Hambi, who starts on 28 March and will be based in London, most recently worked as a consultant to Insynergy Investment Management.

He said: "It had to be a really exciting role to lure me back into a permanent in-house position.

"The reputation of Standard Life Investments and the nature of role provided me with an opportunity I couldn't resist."