Manager News – January 2017
Columbia Threadneedle Global Equity Income:
Stephen Thornber, the manager of the Columbia Threadneedle Global Equity Income fund, has passed away, with Jonathan Crown taking over responsibility for this portfolio. In addition to that fund, Thornber worked on a number of global equity mandates for the group and segregated mandates, with these duties being taken over by William Davies and the firm’s wider Global Equities team.
Oriel Asset Management:
CRUX Asset Management has acquired Oriel Asset Management’s range of funds, thus increasing their assets under management and head count in the process. Oriel’s Global, European and UK funds will be transferred and rebranded under CRUX by the end of January 2017; subject to regulatory approval. In addition, fund managers Patrick Barton, Jamie Ward and Richard Scrope will join CRUX’s fund management team.
Invesco Perpetual Children’s:
Invesco Perpetual is once again using its Children’s fund to test a new manager, with Tim Marshall taking over running the portfolio from Martin Walker with effect from 30th December 2016. Walker, who took charge of the fund in 2003 after his elevation from an investment analyst, will remain with the group and he will continue to run their UK Equity, UK Focus and UK Growth funds. Marshall, a former transport analyst at UBS, joined Invesco Perpetual in August 2014 and has worked on their UK Equity desk as a senior analyst with this fund representing his first management responsibilities at the group.
Invesco Perpetual Fixed Interest:
Gareth Isaac has joined Invesco Perpetual where he will work as the Chief Investment Officer (CIO), EMEA on their Fixed Income team. In this capacity he will be responsible for the portfolio management and strategic thinking of the global macro team in London, as well as represent EMEA (Europe, Middle East, Africa) on their fixed income division’s investment strategy team. Previously, Isaac worked at Schroders where he was a senior fixed interest portfolio manager, responsible for their Global Inflation Linked Bond, ISF Global Unconstrained Bond and Absolute Return Bond funds, before leaving the group in August 2016.
Columbia Threadneedle Managed:
Columbia Threadneedle is changing the name on six of its managed funds as of next month, bringing their terminology in-line with other industry participants, whilst aiming to better reflect each fund’s investment objective.
The funds affected and their new names are as follows:
Columbia Threadneedle Defensive will be renamed as Columbia Threadneedle Managed Bond
Columbia Threadneedle Defensive Equity & Bond will be renamed as Columbia Threadneedle Managed Bond Focused
Columbia Threadneedle Equity & Bond will be renamed as Columbia Threadneedle Managed Equity & Bond
Columbia Threadneedle Global Equity will be renamed as Columbia Threadneedle Managed Equity
Columbia Threadneedle Global Equity & Bond will be renamed as Columbia Threadneedle Managed Equity Focused
Columbia Threadneedle Managed Income will be renamed as Columbia Threadneedle Managed Equity Income
Sanford DeLand UK Equity:
Sanford DeLand Asset Management has launched a new fund for recent hire Rosemary Banyard. The CFP SDL Free Spirit fund will have both a growth and income remit and will focus on companies listed in the UK. Banyard joined the group in October 2016 as an investment director, having previously worked at Schroders on their UK Mid and Small Cap desk where she co-managed their UK Smaller Companies fund.
BlueBay Fixed Interest:
Raphael Robelin and Geraud Charpin have stepped back from managing the BlueBay Investment Grade Absolute Return Bond fund. The duo, along with Mark Dowding, have been running absolute return strategies for the group since 2012, but their duties will be taken over by Andrzej Skiba and Vinit Patel. Robelin, who is co-Head of Investment Grade, will also relinquish his roles on the BlueBay Investment Grade Euro Aggregate Bond and Financial Capital Bond funds. Management of the former fund will pass to a four strong team headed by Kaspar Hense, whereas the latter fund will pass to incumbent co-managers Marc Stacey and Justin Jewell.
Robelin remains lead manager on four BlueBay mandates, including their Investment Grade Bond and Euro Investment Grade Government Bond funds, whilst Charpin retains his role as lead manager of the group’s Investment Grade Libor fund, which is co-run by Robelin, Dowding and Patel.
Royal London Global Equities:
Royal London Asset Management (RLAM) has hired three equity managers from Waverton Investment Management to form a global equity team. Peter Rutter will become RLAM’s Head of Global Equities, having been Head of Global Equities at Waverton and previously he worked at Deutsche Asset Management on their Global Equities team. James Clarke and William Kenney will also join RLAM from Waverton as senior fund managers, having previously worked together with Rutter at Deutsche Asset Management.
With their arrival, RLAM plans to launch global equities solutions in 2017, although the team will continue to manage the Waverton Global Core Equity fund and a segregated mandate for Ironbark Asset Management.
Fidelity International is to hand over the control of its Multi-Asset Open fund range to Bill McQuaker, who joined the group in October 2016 following the departure of Trevor Greetham. The portfolios McQuaker will take responsibility for are the Fidelity Open World, Fidelity Multi-Asset Open Defensive, Strategic, Growth and Adventurous funds. He will be supported by Ayesha Akbar and Michael Costa, who will become co-manager and assistant manager respectively.
Richard Peacock is joining Kames Capital from Aviva Investors to become a co-manager on their Property Income fund. In his new role, Peacock will work alongside, and report to, existing co-manager David Wise. Peacock will also be responsible for the team behind the Kames Property Income fund, having worked at Aviva Investors since 2005, most recently as a fund manager for Aviva Investors Pensions’ open-ended property funds.
Baillie Gifford Japan:
Baillie Gifford has appointed two co-managers to its Japanese Income Growth and Japanese Smaller Companies funds, with Karen See becoming co-manager on their Japanese Income Growth fund alongside Matthew Brett. Felicia Hjertman meanwhile will work as co-manager on their Japanese Smaller Companies fund alongside Praveen Kumar. See joined the group in 2012 as a graduate and has worked as part of the Japanese equities team since her arrival. Hjertman joined Baillie Gifford in 2011 and has been working on their Japanese equities team for the past two years.