Manager News – November 2015

BlackRock Energy:

Robin Batchelor, the manager of the BlackRock World Energy and New Energy funds, is retiring from fund management, having been with the group for over 20 years.  Alastair Bishop, who has been a member of the Energy team since 2010, has been promoted co-manager alongside incumbent manager Poppy Allonby and together they will take charge of both mandates at the end of the year.


Stewart Investors:

Angus Tulloch, David Gait and Jonathan Asante are stepping down from the management of their respective funds on the 1st July 2016.  Tulloch will stop managing the Stewart Investors Asia Pacific Leaders fund when he will be replaced by Gait and Sashi Reddy, with the focus of the fund changing to a suitability product.  Tulloch will also step down as lead manager on the group’s Asia Pacific fund, with Ashish Swarup succeeding him; although Tulloch will remain a co-manager on the strategy.  After these changes take effect, Tulloch will remain at Stewart Investors as a member of their investment team.

At the same time as Tulloch is reducing his fund management duties, Asante will cease to manage the Stewart Investors Global Emerging Markets Leaders fund, with responsibility passing to Swarup and Tom Prew.  Asante will also step down from the firm’s Worldwide Leaders and MPF Global Equity funds, with Reddy and the Sustainable Funds team taking charge of these mandates. With Prew taking on more mandates, Dominic St George has been promoted as co-manager of the Latin America fund to assist him.

Stewart Investors has also appointed Nick Edgerton as a manager of their Worldwide Sustainability fund, which he will co-manage alongside Gait.  The company has confirmed that none of these changes will impact the capacity of any of the products and the funds that are currently closed to new money will remain so.


Hermes UK Small & Mid Cap Companies:

Hermes Investment Management is closing its UK Small & Mid Cap Companies fund following a redemption request by the main unit-holder, with the resulting fund value considered to be too low to be cost effective to administer.  David Stormont has been managing the fund since December 2008 and he will remain with the firm’s UK Equity team, providing input for their Global Small & Mid Cap fund.


Sarasin Global Equity Income:

Darryl Lucas, the manager of the Global Equity Income and Global Higher Dividend funds at Sarasin & Partners, is set to leave the group following a wider reshuffle of its fund management teams.  Simon Steele, who recently joined the company from CCLA, will take over Lucas’ Global Equity Income and Global Higher Dividend funds, working alongside the wider income teams.

Furthermore Sarasin’s Head of Global Equities, Harry Talbot-Rice, is streamlining his responsibilities and handing the management of the EquiSar unit trust funds to co-manager Alex Hunter and the group’s CIO (Chief Investment Officer) Guy Monson.  Hunter and Monson will manage the Irish domiciled funds with immediate effect and will take over the UK fund range in due course.


Old Mutual Corporate Bond:

Old Mutual Global Investors (OMGI) has reshuffled its fixed income arm in a bid to enhance its credit opportunities, with Lloyd Harris appointed the lead manager of their Corporate Bond fund, taking over from Christine Johnson on the 1st December 2015. Johnson had been the lead manager since April 2011 but following this reshuffle she will become the fund’s deputy, although she will retain responsibility for the group’s Monthly Income Bond fund.  In addition to the change of manager, Old Mutual have also changed to Corporate Bond fund’s benchmark to the iBoxx Sterling Non Gilts Index away from the IA Sterling Corporate Bond sector.