Manager Changes - December 2009 GLG Asia Pacific:
GLG Partners’ Bart Turtelboom and Karim Abdel-Motaal will replace Shaun Giacomo of Société Générale Asset Management (SGAM) as managers of the GLG Asia Pacific fund as of January 1st 2010. GLG had been delegating the management of this fund to SGAM, but in 2009 GLG completed the acquisition of SGAM, leading to a review of the fund range.
Fidelity European:
Tim McCarron is to leave Fidelity Investments in order to take a break from the industry. McCarron has been with Fidelity for over 16 years and during this time he has built a good reputation at managing their European fund. Samuel Morse, manager of the Moneybuilder Growth fund, has been appointed as McCarron’s successor. James Griffin will take over from Morse in running the Moneybuilder Growth fund.
Old Mutual Equity Income:
Michael Gifford, manager of the Old Mutual Income and Extra Income funds has left the group. Stephen Message has taken over responsibility for these funds. This change has led to the funds losing their A rating from OBSR.
Legal & General Investment Management Risk:
Legal & General Investment Management (LGIM) have appointed Paul Murray, former Head of Investment Risk at F&C, as their Head of Investment Risk. Murray will be responsible for the independent monitoring, measuring and development of risk for LGIM’s active fund management business.
Schroder UK Equity:
Simon Brazier is to leave Schroders to take a senior management position at another firm. At Schroders, Brazier was responsible for their UK Equity fund, and management of this will pass to Ed Meier and Errol Francis.
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