Manager Changes - May 2009 Schroder Income Maximiser:
John Teahan has left Schroders to pursue opportunities outside of the financial industry. Teahan managed the Schroder Income Maximiser fund and responsibility for this fund has passed to Thomas See, Head of Structured Fund Management at Schroder.
Gartmore High Yield:
Kam Tungnait has joined Gartmore where he will become Head of High Yield and will join Simon Surtees as co-manager of the Gartmore High Yield Corporate Bond fund, although Gartmore are yet to decide who will take sole control of this fund.
BlackRock Emerging Markets:
BlackRock have re-shuffled their Emerging Markets desk following the departure of Alain Bourrier. Bourrier was a co-manager, along with Will Landers and Plamen Monovski of the BlackRock Emerging Markets, BGF Emerging Markets and the BGF Emerging Europe funds. Since Bourrier left, Dhiren Shah, Daniel Tubbs and Sam Vecht, all internal appointments, have taken on the managerial responsibilities for the BlackRock Emerging Markets and BGF Emerging Markets funds. Monovski and Vecht will run the BGF Emerging Europe fund whilst Landers will focus solely on the BlackRock Latin America fund.
F&C UK Equities:
Ted Scott has returned to F&C after a period of illness but will no longer run money for the group, prompting a re-shuffle on the UK Equities desk. Scott will be responsible for providing macroeconomic analysis and developing market strategies for the UK Equities desk. Hilary Aldridge is now lead manager of the UK Growth & Income fund, having been deputy manager to Scott since November 2008. Catherine Stanley, Head of Smaller Companies, will take over the Stewardship Growth and Stewardship Income funds, but the stock screening process will remain unchanged. Phil Doel, Director of UK Equities, has assumed control of the UK Equity Income fund, taking over from Julian Cane with Cane focusing on his investment trust mandates. Peter Lees, Head of UK Equities, will become lead manager of the UK Equity fund, and will alter the strategy to align it with the institutional high alpha product he also manages.
Aberdeen Multi-Manager:
As part of the wider acquisition deals between Aberdeen Asset Management and Credit Suisse, Aidan Kearney and Graham Duce, co-Heads of the Multi-Manager team at Credit Suisse, and the rest of the team will move across and be re-branded as Aberdeen. This will involve all sixteen onshore and offshore funds managed by the Multi-Manager team.
Smith & Williamson UK Equity:
Charles Deptford has joined Smith & Williamson from New Star to manage their UK Equity Growth and UK Special Situations funds, previously managed by Rupert Fleming and Mark Boucher. Deptford will also assist the running of the Enterprise fund, a long/short vehicle managed by Rupert Fleming. At New Star Deptford was the manager of the Equity Income fund but following the acquisition by Henderson, Deptford left the group.
HIM Capital:
Nick Brind, former manager of the New Star Financial Opportunities investment trust and co-manager of the Private Equity investment trust, has left New Star to join HIM Capital. Brind was not retained by Henderson New Star following the take-over of New Star by Henderson Global Investors, and is yet to be given a fund to manage at HIM Capital. However, Brind will work alongside John Yakas and Alec Foster on the Hiscox European Financial, Far Eastern Financial and Insurance Portfolio funds. HIM is planning to launch a fund for Brind, which will be similar to the New Star Financial Opportunities fund he previously ran.
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