Press release |
Former head of Perry Capital London office joins Wellcome Trust Investments Division
Emma Davies, formerly the Chief Investment Officer at Big Society Capital, has this month joined the Wellcome Trust as an investment manager. She has taken on responsibility for part of the Trust’s directly managed equity portfolio and will play an important part in its foreign exchange and derivatives overlays.
Emma previously ran the London office of Perry Capital, one of the world's leading hedge funds, before helping to set up Big Society Capital.
Chief Investments Officer Danny Truell said: "Emma is a welcome addition to our Investment team. Her appointment continues our policy of attracting the brightest and best talent from diverse backgrounds to manage our large and varied portfolio, enabling the Wellcome Trust to achieve extraordinary improvements in human and animal health."
Emma adds: "I am thrilled to be joining the investment team at the Wellcome Trust, a unique organisation with a reputation for excellence both in the research it funds worldwide and in how it manages its large asset base. I look forward to using my public and private markets experience to the benefit of the team and the Trust."
The Wellcome Trust has more than 25 years' experience of owning a highly diversified financial investment portfolio. The investment base was valued at £14.5 billion at 30 September 2012. Since the portfolio's inception in 1985, it has delivered a 3133 per cent return.
From 1 October 1985 (when it took on its modern form) to the end of September 2012, the Trust had spent more than £10 billion. It now spends around £650 million each year to achieve extraordinary improvements in human and animal health and expects to spend £3.5 billion over the next five years.
Nick Moakes, Head of Public Markets at the Wellcome Trust, says: "I am delighted that we have been able to attract someone of Emma's quality and experience to join the team.As we expand the scope of our directly managed public assets, we are committed to ensuring that we have the right resources to manage them properly in a challenging but fascinating investment environment."