CG Asset Management has promoted portfolio manager Emma Moriarty to the investment team on its £802m flagship Capital Gearing Trust (CGT).
Moriarty (above), a former senior economist at the Bank of England, will become a co-manager of the multi-asset, capital preservation fund alongside CGAM’s founder Peter Spiller and co-chief investment officer Chris Clothier.
This will allow CGAM chief executive Alastair Laing to step back from CGT to concentrate on running the business.
After joining CGAM four years ago, Moriarty became a co-manager of its five open-ended funds including the £577m CG Absolute Return and £359m CG Dollar funds.
CGT said she would now take on greater formal responsibility for picking investments and setting asset allocation.
Laing said: “Since joining CG Asset Management, Emma has become an increasingly important member of our investment team and has made a significant contribution to both our investment thinking and the management of our portfolios. Her macroeconomic experience and particular expertise in fixed income and index-linked bonds complement the skills already within the team.”
Moriarty said she was delighted to become a named manager of CGT. “In the current environment, where geopolitical risks are elevated, inflation remains persistent, and equity valuations appear stretched, the company’s defensive mandate and unparalleled long-term track record continue to stand out as an important offering in a volatile investment landscape.”
Moriarty worked at the Bank of England for eight years before joining CGAM in 2022. She began her career in the capital markets practice at Bell Gully, a New Zealand-based corporate law firm. She holds an MSc in Economic History from the London School of Economics and studied Economics, Finance and Law at the University of Auckland.
Our view
QuotedData senior analyst Matthew Read said: “Capital Gearing has long been closely associated with Peter Spiller, who has managed the trust since 1982, so building sufficient depth around him is important. Emma Moriarty’s promotion is the latest step in that process. She has already spent four years working alongside Spiller and Chris Clothier and, crucially, this formalises a role she is largely performing. For a trust whose appeal rests heavily on consistency and preservation of capital, that gradual evolution is exactly what shareholders should want to see and we wish Emma and the wider team every success.”
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