Artemis has appointed Alex Stanic from JP Morgan Asset Management’s international equity group to a new position of head of global equities, as it revamps its global equities team.

He will replace global equity fund manager Simon Edelsten who will retire from the firm.

Mr Edelsten, who manages the Mid Wynd International Investment Trust and the open-ended Artemis Global Select Fund, will leave the fund boutique at the end of 2023.

To ensure a smooth handover, Mr Edelsten will continue managing the funds alongside Mr Stanic, who joins Artemis on 1 March.

He spent seven years at JP Morgan, where he led on the global equity funds in the Global Specialist team, including the Global Unconstrained Equity Fund.

Before that he was head of global equities at River & Mercantile, a division he set up in 2009.

Alex Illingworth – who co-manages the Mid Wynd and Artemis Global Select vehicles with Mr Edelsten – will leave Artemis at the end of February.

The firm said it will announce shortly the appointment of two other new members of the global equity team.

Paras Anand, Artemis’ chief investment officer, said: “Alex Stanic is an experienced manager and has managed institutional mandates with similar objectives of prudent growth to those applied to the Mid Wynd and Artemis Global Select funds.

“He and his new team will bring additional insights and expertise to the business while also leveraging the research and stock-picking skills of the wider Artemis equity teams to ensure investors continue to be served well.”

Mr Stanic said: “Simon Edelsten and I have very similar investment styles and like many of the same stocks, so I’m looking forward to working with him over the next few months before fully taking over Simon’s fund management responsibilities.”

Mr Edelsten said: “I’ve been lucky to enjoy the support of Artemis over the past 12 years, building a global equity business, and I’m confident the firm will continue to grow and evolve without losing its focus on delivering exemplary investment performance and service.”