Manager Changes - March 2009
Fidelity America:
Bob Haber, manager of the Fidelity American Growth and American Special Situations funds, has retired as Chief Investment Officer of Fidelity Investment Canada and has been replaced by managers in Fidelity’s London office. Aris Vatis, manager of the American fund, will take over running the American Growth portfolio and Adrian Brass, manager of the American Earning Growth fund, will take over the American Special Situations mandate.
Jupiter Undervalued Assets:
Edward Bonham Carter, Chief Executive and Chief Investment Officer at Jupiter has stepped down from managing the Jupiter Undervalued Assets fund. Bonham Carter will no longer manage money for Jupiter and will focus on his other duties. Patrick Harrington has left OLIM, an institutional boutique, and has been appointed as Bonham Carter’s successor. Prior to OLIM, Harrington was the manager of the Henderson UK Equity Income and UK Extra Income funds.
Collins Stewart Multi-Manager:
Chris Colclough has joined Collins Stewart Wealth Management’s multi-manager team. Colclough joins from HSBC, where he spent the previous six years as a fund manager on their global equities desk.
River & Mercantile Global Equity:
Alex Stanic has departed Newton in favour of River & Mercantile, where he will join as Head of Global Equities and manage a global fund for the group. Stanic will complete his three month notice period in June. Alex O’Reilly has also left Newton to join Stanic on the Global Equities desk.
Newton Global Opportunities:
Robert Hay has succeeded Alex Stanic as manager of the Newton Global Opportunities and BNY Mellon Global Intrepid funds following Stanic’s departure to Smith & Williamson. Paul Markham will become an alternative manager on the Newton International Growth and Global Higher Income funds, a position previously held by Stanic.
BlackRock Gold & General:
Graham Birch, manager of the BlackRock Gold & General fund is to take sabbatical until the end of the year. Evy Hambro, co-manager of the fund will take over the running of the fund in Birch’s absence, as well the World Mining Investment Trust, although there will be no change to the investment process.
Rathbone High Income:
The Rathbone High Income fund will be merged with the Rathbone Blue Chip fund. Julian Chillingworth, current manager of the Blue Chip fund will manage the combined fund while Hugh Yarrow, manager of the High Income fund, has departed the group.
Artemis UK Growth:
Tim Steer will leave New Star and take control of the Artemis UK Growth fund at the end of June 2009. Adrian Patterson will step down from the Artemis fund and will join John Dodd running the Artemis Alpha Trust fund.
Smith & Williamson Enterprise:
Mark Boucher has resigned as manager of the Smith & Williamson Enterprise fund, which has caused a delay in the launch of a retail share class. Robert Fleming, the co-manager, and Mark Swain will take over responsibility for the Enterprise fund while Boucher will run an American multi-strategy hedge fund.
Liontrust First Income:
Jeremy Lang, who in January 2009 announced his plans to resign from Liontrust in 2010, will now leave the group in April 2009. Gary West and James Inglis-Jones have been appointed as Lang’s successor on the First Income fund, as well as the First Growth and First Large Cap funds. Currently West and Inglis-Jones manage the Liontrust Intellectual Capital fund and will use the same investment process on the four funds.
New Star Investment Managers:
Richard Pease and Simon Rowe, managers of the New Star European Growth fund, will join Henderson Global Investors subject to the completion of Henderson’s acquisition of New Star. Other New Star managers to commit themselves to Henderson are James Gledhill, Head of Fixed Interest at New Star and co-manager of the Extra High Yield Bond, Fixed Interest and High Yield Bond funds; Guy de Blonay, Global Financials manager; Mark Harris and Craig Heron, multi-managers; Trevor Green, manager of the UK Growth and UK Select Opportunities funds; Nick Sheridan, European Values manager, as well as the New Star Managing Director, Mark Skinner.
Phillip Roantree, manager of the New Star Sterling Bond fund, will not be joining Henderson’s (if the acquisition is successful) and will depart the group along with Tim Steer and Charles Deptford. Roantree will be replaced by Stephen Thariyan, Head of Credit at Henderson, and Phillip Payne. Stephen Peak, Head of European Equity at Henderson, will take over from Tim Steer as manager of the New Star UK Alpha fund. Jamie Allsopp, manager of the New Star Hidden Value and Heart of Africa funds has left the group following the sale of the suspended Heart of Africa to Duet Asset Management, and Peak will also assume control of the Hidden Value fund.
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