Aviva Global Equity:
Aviva Investors has hired Helen Driver as a fund manager for its Global Equities team, where she will focus on identifying large cap global equity ideas for both standalone portfolios and the group’s Multi-Strategy proposition. Driver previously was a fund manager at Legal & General Investment Management (LGIM) where she ran their UK Real Income Builder fund before leaving the firm in July 2015.
Findlay Park American:
Charles Park, the co-founder of the boutique investment group Findlay Park, is stepping down as fund manager of their flagship American fund, which he has been co-managing alongside James Findlay since its launch in March 1998. Park, who is also the deputy Chief Investment Officer (CIO) at the firm, will remain a partner in the business and has been appointed as an advisor to their investment committee. Responsibility for the management of the American fund will pass to Findlay and the other members of the investment team, including senior managers Chris Fidyk and Chris Watts.
Henderson Multi Asset:
Henderson Global Investors has bolstered its multi-asset offering with the hire of Stephen Payne from Santander Asset Management. Payne will co-manage the group’s Cautious Managed fund alongside Jenna Barnard and John Pattullo, taking over from Chris Burvill, Henderson’s Director of UK Equities. At Santander, who Payne joined in 2007, he was responsible for running their Dividend Income Portfolio, Enhanced Income Portfolio and Equity Income funds.
Old Mutual Japanese Equity:
Old Mutual Global Investors (OMGI) is set to shut its onshore Japanese Equity fund following a period of outflows which has resulted in assets under management falling to just £16.5 million in size. The fund was launched in April 2012 and has been co-managed by Amadeo Alentorn, Ian Heslop and Mike Servant will be closed on the 17th June 2016 after the firm decided the size meant it was no longer viable to keep it operating.
Henderson Global Equity:
Ian Warmerdam, the manager of the Henderson Global Growth fund, has taken a one year sabbatical leave from the group, starting in February 2016, with his return expected at the start of next year. Ronan Kelleher, who has been co-managing the fund with Warmerdam since January 2015, has taken over the fund on an interim basis until Warmerdam’s return.
Columbia Threadneedle UK Equity Income:
Leigh Harrison, the Head of Equities at Columbia Threadneedle and manager of the group’s UK Equity Alpha Income, UK and UK Overseas Earnings funds, is retiring on the 30th June 2016. Richard Colwell, who has worked alongside Harrison since joining the firm in 2010, will succeed him as Head of Equities, whilst remaining in charge of the flagship UK Income fund, which he took over from Harrison in October 2015. Jonathan Barber has been appointed the deputy manager on that fund, providing analytical support to Colwell.
Invesco Perpetual Multi Asset:
Invesco Perpetual has hired Sebastian Mackay from Standard Life to work on its Multi Asset team as a fund manager, working alongside David Millar, Dave Jubb and Richard Batty; who he worked with at Standard Life. Mackay, who started his career at Scottish Widows Investment Partnership (SWIP) before joining Standard Life in 2000, will report to Millar on Invesco Perpetual’s Global Targeted Returns fund, as well as bolstering their wider multi-asset capability.
AXA Framlington Managed Balanced:
Richard Peirson, the co-manager of the AXA Framlington Managed Balanced fund is to retire from the firm in March 2017, having managed the fund since joining the group in March 1994. He will remain with the company until this date but will hand over management duties of his fund to Jamie Hooper, who was promoted to co-manager in November 2015 in preparation for taking overall control of the fund.
Securities Of Scotland Investment Trust:
The board of directors of the Securities Of Scotland investment trust have appointed Mark Whitehead of Martin Currie as lead manager of its portfolio, taking over from Alan Porter. Porter joined Martin Currie in 2008 and took over the trust in August 2011, but performance has struggled over the past few years under his stewardship, resulting in this change of management. Porter meanwhile will remain with the group working on their Income team and will retain management of the Legg Mason IF Martin Currie Global Equity Income fund.
Investec Global Bond:
Investec Asset Management is closing its Global Bond fund, co-managed by Russell Silberston and John Stopford, due to a recent fall in its fund size. In 2012 assets under management peaked at £184 million, but it has since shrunk to £80 million and the group doesn’t expect demand to pick up in the future. As such the fund will be closed on the 8th July 2016, with unit-holders being given the choice to switch into other Investec funds at zero cost.
Miton UK Value Opportunities:
Following the departures of George Godber and Georgina Hamilton, the Miton Group has appointed Andrew Jackson as manager of its UK Value Opportunities fund. Godber and Hamilton are currently servicing their notice period prior to joining Polar Capital, with Jackson set to arrive on the 27th June. Jackson previously worked at EdenTree Investment Management (formerly Ecclesiastical Investment Management) from November 2003 until his departure in July 2015, running their UK Equity Growth fund during that time.
Standard Life Property:
Andrew Jackson has announced that he will be retiring from Standard Life having worked on the group’s property team for 25 years, which he joined in 1991 and has been head of since 1999. Jackson will step down from his position as head of wholesale and listed real estate funds in October 2016, with Standard Life confirming they will not be hiring a direct replacement; instead his responsibilities will be spread across other members of the team. Jackson will spend the next six months ensuring a smooth transition period.
Svitlana Gubriy will become head of global real estate investment trusts (REITs) and has been promoted to lead manager of the firm’s Global REIT fund. James Britton, who currently runs their Property Life fund, will assume responsibility for the Standard Life Global Real Estate fund.
Neptune US Equity:
Felix Wintle has left Neptune Investment Management where he was Head of US Equities and responsible for their flagship US Opportunities fund. Following Wintle’s departure, Neptune has restructured its US Equity team, promoting James Hackman, who runs their US Income fund, to lead manager of the US Opportunities fund and become head of desk with a view of implementing a new investment process.
Patrick Close will become the co-manager on the US Opportunities fund and Neptune will launch a US mid cap strategy for him in the coming months, subject to regulatory approval. In addition Robin Milway has joined the group from EFG Asset Management to become head of stock strategy and run a European Equity fund they will launch for him; again subject to regulatory approval.
Simon Somerville is leaving Jupiter, where he worked for 11 years and has been running their Japan Income fund since its launch September 2005, to join Marathon Asset Management. Dan Carter, who has been the fund’s deputy manager for eight years and has the same investment process as Somerville, will take become the lead manager. Prior to joining Jupiter in 2008, Carter was a fund manager at Odey Asset Management on their Japanese Equity team and previously worked at Baillie Gifford as an investment analyst covering Japanese companies.
AXA Framlington UK Smaller Companies:
The manager of the AXA Framlington UK Smaller Companies fund, Henry Lowson, is leaving the group, having joined them in January 2005 as an analyst on their UK Equities team. Lowson became lead manager of the UK Smaller Companies fund in May 2012, after Chris St John stepped down to focus on his other responsibilities at the firm. AXA Framlington are yet to appoint a replacement.