Manager News – August 2017

Neptune US Equity:


Neptune Investment Management are seeking regulatory approval to close their US Mid Cap fund due to costs associated with running a small portfolio.  This move has resulted in the manager, Patrick Close, leaving the company and George Boyd-Bowman will help run the Mid Cap fund until such time it closes.   Close was also co-manager on the firm’s US Opportunities fund but will be solely managed by Alistair Unwin.



Liontrust Fixed Income:


David Roberts and Phil Milburn are leaving Kames Capital and set to join Liontrust in early 2018, where they are expected to launch Strategic Bond, High Yield Bond and Absolute Return Bond funds; subject to appropriate regulatory approvals.  Roberts was Head of Fixed Income at Kames Capital whilst Milburn was Head of Investment Strategy of the team and responsible for running their High Yield Bond fund.



Legal & General UK Income:


Legal & General Investment Management (LGIM) have announced that Stephen Message, former manager of the Old Mutual UK Equity Income fund, has joined the company.  Message will join the Global Income team as a fund manager with a focus on UK Income strategies.



Rathbones Recovery:


On the 23rd October 2017 Rathbones is to rename their Recovery fund to UK Opportunities, while cutting its Annual Management Charge (AMC) for a limited period, as Jo Rands has left the firm.  Rands was co-manager of the fund alongside Alexandra Jackson, who will continue working in that capacity whilst Rathbones looks to appoint an investment professional to work alongside her.  In the meantime, Jackson will be the sole manager and have a dedicated team supporting her.



Baillie Gifford Global Equity:


Dominic Neary has stepped down as the manager of the Scottish American investment trust and the Baillie Gifford Global Income Growth fund, in anticipation of him leaving the group.  Management of the trust will pass to James Dow who was previously deputy manager, while Toby Ross will take charge of the fund as he was formerly the co-manager.  Neither the trust nor the fund is expected to change its investment strategy following Neary’s departure.