Independent French asset manager Carmignac Gestion has expanded its fund management team with two new appointments, and has reshuffled staff at its Paris-based office.

Maxine Carmignac has taken over the Carmignac market neutral fund, which she previously co-managed at its launch in 2007 before leaving the company for two years to work in New York and London, where she worked with Visium Asset Management and Cheyne Capital. Ms Carmignac, also a member of the board of directors of Carmignac Gestion since April 2008, will report directly to the chief investment officer, Edouard Carmignac.

Charles Zerah has joined the management team as a fixed income manager. Mr Zerah was most recently part of the international bond management team at LCL – known as Le Credit Lyonnais before becoming a wholly owned subsidiary of Credit Agricole – where he was responsible for emerging market bonds.

In other moves, Keith Ney, previously responsible for the market neutral fund Ms Carmignac has taken over, has taken on the role of global analyst for the management team and Laurent Chebanier, previously a fixed income manager, is now country risk analyst to the management team.

Carmignac Gestion has over €30 billion (approx $42.2 billion) in assets under management and a range of 19 funds across a variety of asset classes. Its funds are actively distributed in France, Luxembourg, Switzerland, Belgium, Italy, Germany, Spain and the Netherlands. As well as its main Paris office, the company has had a subsidiary in Luxembourg since 1999 and opened representative offices in Madrid and Milan in 2008.