Manager Changes - January 2009
Ignis Corporate Bond:
Joe McKenna, former chief investment officer for fixed interest, has departed Ignis Asset Management. McKenna was also responsible for managing the Ignis Corporate Bond and Chris Bowie will assume the role as lead manager of this fund. Adam Walker, the co-manager, is to remain as part of the fund’s management.
Standard Life UK Equity Income Unconstrained:
Thomas Moore has succeeded Dominic Byrne as manager of the Standard Life UK Equity Income Unconstrained fund. Byrne will remain with the group but has moved to the Global Equities Team, where he will become an analyst.
Fidelity Multi-Manager:
Simon Ellis, managing director of multi-manager at Fidelity, has left the firm. In October 2008 Fidelity warned that 10% of its European workforce faced redundancy, and Ellis’ role is one of those cut. Fidelity has announced that they will not be looking for a replacement.
Liontrust:
Jeremy Lang, manager of the Liontrust First Income and First Growth funds, and William Patterson, manager of the Liontrust First Large Cap and 350 funds, have announced their resignation from the group in 2010. Lang and Patterson are Directors and together they manage a large proportion of Liontrust’s assets. The group have cited a boardroom disagreement as the reason for the departures. Liontrust are now in the process of seeking replacement managers.
Taylor Young:
Taylor Young Investment Management has appointed Christopher Buxton as manager of the CF Taylor Young Growth and Income fund. Buxton replaces James Oldham, the former manager, following his departure to Ignis Asset Management.
Polar Capital Paragon:
Julian Barnett is resigning from Polar Capital where he was manager of the Polar Capital Paragon hedge fund. The Paragon fund is to be wound-down and Barnett will continue running the fund until this process is completed. Barnett is taking a break from the investment industry, as well as Polar Capital.
SWIP Fixed Income:
Royal London Asset Management (RLAM) has appointed Craig Inches as joint fund manager of the RLAM Gilt and Index-Linked Bond funds. Inches joins from Scottish Widows Investment Partners (SWIP) where he was fixed income director and has worked on a range of fixed interest funds.
Legal & General Fixed Interest Trust:
Legal & General are changing the manager of their £1 billion Fixed Interest Trust fund on 1st February 2009. Malcolm White, the current manager, is being replaced by Richard Hodges who currently manages the L&G Dynamic Bond Trust fund. White will stay with the group and focus on the institutional side of the business.
New Star:
Hitesh Thakrar has departed from New Star where he managed the New Star Global Equity and Technology funds. Nick Sheridan has been appointed as his successor on the Global Equity fund and Lucy Bernays has assumed responsibility for the Technology fund. Sheridan will continue in his role as manager of the European Value fund and Bernays will continue as co-manager of the Pacific Growth fund. New Star have also received FSA approval to merge the Monthly Income Trust fund into the Managed Distribution fund, run by Gregor Logan. The Monthly Income fund was being outsourced to John Cornes at UBS Asset Management, and a new share class has been added so clients can continue to receive monthly income.
Alliance Trust:
Jonathan Bolton has joined Alliance Trust as Head of Japanese Equities. Bolton will be responsible for managing exposure through the Premier Alliance Trust Japan fund. Bolton joins from TT International Asia, where he was a former partner.
Aegon North America:
Aegon Asset Management have replaced the manager of the American Equity fund following the appointment of a new Head of North American Equities. Ian Cooke will take over both roles after his arrival from Allied Irish Bank where he was head of US equities and was responsible for managing a number of mandates.
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