Manager News – August 2016

Old Mutual China:

Diamond Lee has left Old Mutual Global Investors (OMGI), where he managed their China Equity fund, to pursue a career outside of investment management, with responsibility for the fund passing to Josh Crabb. Lee joined the group in November 2014 from Ignis Asset Management and was instrumental in building OMGI’s presence in Hong Kong when the firm established an Asian equities team in April 2015. Crabb, who is Head of Asian Equities at OMGI, has been managing Asian equity funds for 15 years, including stints at BlackRock and Prudential and officially took charge of the China Equity fund on the 22nd July.


Allianz Energy:

The manager of the Allianz Energy fund, Chris Wheaton, has left the firm after Allianz Global Investors made changes to their UK equity research team in London. Wheaton joined the group in 2005 as a media analyst and took charge for their Energy fund in April 2007, with responsibility for its management now passing to Rohan Murphy; who was the fund’s co-manager. Murphy joined Allianz in 2007 on their graduate training scheme, initially working on European equity portfolios before moving into energy research.


Legg Mason US Equities:

Bill Millar, a high profile stock-picking manager in the US, is breaking ties with Legg Mason after 35 years at the firm, as he buys out its 50% stake in their joint venture LMM. LMM was established by Millar, who is also their Chief Investment Officer (CIO), and provides investment management services to the Legg Mason Opportunity and Millar Income Opportunity funds. Millar previously managed the Legg Mason Value fund, which out-performed the S&P 50 Index 15 years in a row until 2005 when relative returns suffered, resulting in Millar eventually relinquishing control in 2012.


EdenTree Global Equities:

EdenTree Investment Management has strengthened its Global Equity team with the hire of David Osfield as co-manager of its Amity International fund, working alongside Robin Hepworth; the firm’s Chief Investment Officer (CIO). Osfield joins from Alliance Trust where he spent 14 years, most recently as an investment manager on their Global Equity team.


Schroders Fixed Interest:

Gareth Isaac, a fixed interest portfolio manager, has left Schroders with immediate effect, with his responsibilities distributed within the team until a permanent replacement can be found; with Paul Grainger continuing to lead the fund management function within the team. Isaac joined the group in 2011 from GLG Partners, where he was a fixed interest manager, and during his time at Schroders he has managed a number of global fixed interest and multi-asset products.


Liontrust Global Macro:

Liontrust’s Jan Luthman, the co-manager on their global macro thematic funds range, is to retire after 30 years in the industry, with responsibility for the fund range passing to Stephen Bailey and Jamie Clark. Luthman has been co-managing the Liontrust (formerly Walker Crips) Macro UK Growth and Macro Equity Income funds since March 2002 and October 2003 respectively alongside Bailey. Clark, who joined the team at Walker Crips in 2003, became another co-manager of these two funds in January 2004, with all three managers sharing the same investment philosophy and employing the same investment approach.