BlackRock Smaller Companies Investment Trust:
BlackRock has announced that Mike Prentis, who manages their Smaller Companies trust, is retiring at the end of June 2019 and will be replaced by Roland Arnold. Arnold was appointed as co-manager on the trust in 2016 but has been the sole manager of its open-ended equivalent, the BlackRock Smaller Companies fund, since March 2015.
Colombia Threadneedle Global Emerging Market Equities:
Ilan Furman is stepping down from running the Columbia Threadneedle Global Emerging Markets Equity fund, with Dara White, the firm’s Head of Global Emerging Market Equities, taking over the fund in July 2019. Furman will continue to run the group’s Latin American fund.
Fidelity UK Equities:
Fidelity is due to merge its MoneyBuilder Growth fund into their UK Opportunities fund on the 24th June 2019; subject to shareholder approval. The two funds are both run by Leigh Himsworth and share similar investment strategies, with Himsworth continuing to manage the combined portfolio going forward.
Fundsmith Emerging Equities Trust:
Terry Smith will step down as manager of the Fundsmith Emerging Equity investment trust at the end of May 2019 after five years at the helm, but will provide advice and support to his successors Michael O’Brien and Sandip Patodia in his capacity as Fundsmith’s Chief Investment Officer (CIO). O’Brien and Patodia joined the group ahead of the launch of the trust in 2014 and have supported Smith during his tenure.
M&G UK Select:
Sam Ford, the manager of the M&G UK Select fund, has left the company with portfolio responsibilities being handed to co-manager Rory Alexander. Alexander has been co-deputy manager of the fund since January 2016, in addition to being the co-manager of the group’s Pooled Pensions UK Equity Growth and Smaller Companies funds; duties he will retain.
Sanlam Global Equity:
Lorenzo Dicorrado will take up management of Sanlam’s Global Value and Stable Global Equity funds following the departure of Colin McQueen; who had been lead manager of the funds since 2011 and 2012 respectively. McQueen will join T. Rowe Price in July 2019 and will become lead portfolio manager for their offshore International Value Equity strategy.
M&G Fund of Investment Trust Shares:
M&G Investments has received approval to merge its Fund of Investment Trust Shares fund into its Managed Growth fund following a shareholder vote. David Fishwick, who currently manages the Managed Growth fund, will continue to run the combined product, with no changes to the investment approach as a result of the merger.