View more on these topics

Advisers assess the industry jousting

IFAs say the argument between Neptune and Britannic over two fund managers moving reflects fund companies’ sensitivity at losing managers.

Chelsea Financial Services managing director Darius McDermott says: “This is just industry jousting. I am not going to come down on either side. Neptune are likely to be disappointed and if they feel that Britannic have over-represented Russ then they have a right to complain about it.”

Hargreaves Lansdown senior analyst Meera Patel says: “Maybe Britannic overstated his exact role but Barry Norris was the European opportunities fund manager and if he felt that Russ was worth poaching then he is. If Russ was working in an analytical role at Neptune, he may well have covered European stocks as well as UK ones.

“Neptune have lost two very good people, and we are concerned that their managing director Robin Geffen will have too much on his plate managing this fund on top of his others unless he can find a replacement manager.”

Recommended

Lessons of the L&G case

A lawyer assesses the ramifications of the recent financial services tribunal ruling on the FSA’s enforcement processes.

US election

Capital Market Notes, November 2016 David Lafferty, chief market strategist at Natixis Global Asset Management, looks at the impact on markets and portfolios since the somewhat surprising outcome of the US election. Click here

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment