A fund manager who is in charge of £1bn of assets at Artemis, has announced he will retire after 21 years with the firm.
Peter Saacke, manager of the Artemis SmartGARP global equity funds, is set to retire at the end of June 2024.
After retiring, Saacke plans to train as a maths teacher at the Institute of Education at University College London.
Before entering the world of finance in 1999, Saacke spent a decade studying, doing research and teaching at universities in the UK, Germany and Italy.
He said he missed teaching and was inspired to retrain by former FT journalist Lucy Kellaway who founded NowTeach, a professional network of career changers he will become part of.
Saacke, who is also a partner at Artemis, said: “While I have no regrets about leaving academia, the one thing I did miss was teaching. I had always assumed that at some point I would return to academia, perhaps via teaching at a business school.
"But when I read Lucy Kellaway’s book, Re-educated, it struck me that perhaps someone with my background is more needed in a school, teaching a subject for which there is a chronic shortage of teachers.
“I benefited from receiving a free university education in the UK, and – like many of my peers in our industry – I have been a beneficiary of trends that led to rising inequality in our society. In my eyes, the best way to combat inequality is via education, so I am hoping to make a small contribution and give a little bit back.
"There is also a purely selfish reason for the move – I enjoy the company of younger people. I have had the pleasure of being part of Artemis’ annual Profit Hunt, a stock-picking competition for Year 12s, and also tutoring a student via The Access Project."
The fund manager said he hopes to introduce courses in financial literacy once he has found his feet as a maths teacher.
Raheel Altaf, who has been with Artemis since 2014, will take over as lead manager of Saacke's funds, he is currently co-manager on the SmartGARP global funds.
Greg Jones, head of distribution, said: “These changes represent a seamless transition for clients, given Raheel is currently co-manager and will continue to use the systematic SmartGARP process while being supported by the rest of the team.”
tara.o'connor@ft.com
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