Manager News – November 2017
Royal London Asset Management UK Equity:
Royal London Asset Management (RLAM) has expanded its UK equity team with two hires to replace fund manager Derek Mitchell who has retired from fund management. Mitchell was responsible for their UK Opportunities and UK Mid Cap Growth funds, as well as being co-manager alongside Henry Lowson on the UK Smaller Companies fund.
Following Mitchell’s retirement, the group has appointed Craig Yeaman who will manage the UK Opportunities fund, and Henry Burrell who will be assistant fund manager to Lowson, who has taken charge of the UK Mid Cap fund.
Richard Hughes, manager of the group’s UK Income Distribution fund, is to retire in March 2018 and Aled Smith, manager of the Global Leaders fund, is also stepping down. Successors to both Hughes and Smith will be announced in due course.
Meanwhile, Randeep Somel, deputy manager of the M&G Global Themes fund, will become deputy manager of the Global Recovery fund with immediate effect to support David Williams. As a result, Richard Halle will replace Somel on the Global Themes fund as deputy manager to Jamie Horvat.
Janus Henderson US Growth:
On the 11th December 2017 Derek Pawlak, Michelle Picard and Scott Priebe are to step down from managing the group’s US Growth fund after a period of disappointing performance. Doug Rao and Nick Schommer will step in and there will be no change to the fund’s investment objective, benchmark, or fees. The pair currently manage the group’s US Twenty fund while Schommer also manages the Janus Henderson Alpha fund, which focuses on the US equity market.
Janus Henderson European Equity:
Asim Rahman, co-manager on the group’s European Selected Opportunities, European Focus and Continental European funds, is to leave the firm at the beginning 2018. His replacement is yet to be announced, although Rahman will remain with Janus Henderson until the end of January 2018 to ensure a smooth handover to the rest of the team.
The Manek Growth fund is to close in December 2017 after its size became too small to make it economical to run. Investors have been given the option to redeem their units or to remain in the fund until it is wound up on the 28th December 2017.
M&G UK Income Distribution:
Following the announced retirement of Richard Hughes in March 2018, Michael Stiansy has been named as the successor the UK Income Distribution fund, with him becoming appointed to the fund with immediate effect. Stiansy has been the deputy manager on the group’s flagship Recovery fund since January 2011, as well as co-managing their Charifund fund since November 2016. On the 1st April 2018 Stiansy will officially become the fund’s co-manager, working alongside Sam Ford, who has also been appointed a co-deputy manager, with Hughes remaining the lead manager until his retirement.
M&G European Fixed Interest:
Jim Leaviss, the Head of Retail Fixed Interest at M&G, is handing over responsibility for the M&G European Index Linked Corporate Bond fund to Wolfgang Bauer at the start of next year; although he will retain responsibility for the other mandates he runs for the group. Bauer is currently Leaviss’ co-manager on the firm’s Absolute Return Bond fund, as well as being the deputy manager on the Global Corporate Bond and European Corporate Bond funds.