Hans-Joachim König has stepped down as head of European equities at Union Investment as he begins his retirement, the firm revealed exclusively to Citywire Global on Friday.
König joined Union Investment twenty-five years ago and managed the Unifonds, with €2 billion in assets, since 2002. Carsten Hilck took over the management of the fund in October last year.
Jürgen Hackenberg, Euro stars A-rated manager of the UniMid&SmallCaps: Europa A fund and the UniDeutschland XS fund, has taken over the role as head of European equities.
This latest departure follows the annoucement in December that André Köttner, manager of the Union Investment flagship fund Uniglobal, left the firm to join its competitor, asset management firm DWS.
Whilst König has stepped back from his responsibilities, he is still contracted under a partial retirement plan at Union Investment.
In the last three years the Unifonds returned 31.9%. Its benchmark, the Dax 30 TR, rose 38.6% in the same period.