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Ashton Bradbury to relinquish UK select mid cap fund in Old Mutual reshuffle

Old Mutual Asset Management flagship fund manager Ashton Bradbury is to step down as manager of the £507m UK mid-cap select fund at the end of 2008.

Bradbury is to take on the newly created role of head of equities and will also take a place on the board.

Management of the UK mid-cap select fund will pass to deputy Richard Watts while Luke Kerr takes on the UK specialist equity hedge fund. Both Watts and Kerr will start in 2009 with UK select smaller companies manager Dan Nickols taking Bradbury’s position as head of the UK mid and small cap team.

Bradbury’s new role will see him focus on the broader strategy and management of the business. He will continue to chair the monthly UK mid and small cap team strategy meetings.

Meanwhile, Old Mutual chief investment officer Eoin Murray is to leave the group.

OMAM chief executive Peter Baxter says: “OMAM has three core investment areas, quantitative strategies, fixed interest and discretionary equities, all of which continue to form a key part of our current and future strategy and I am delighted that Ashton will head our equities area as well as joining the Board of OMAM.

“Ashton and the team have worked very hard to build a very successful, highly regarded and respected UK Mid & Small Cap investment team. The team’s funds have always been managed on a team basis with a single investment philosophy, process and economic and market view and this will not change going forward.”


Drain on resources

I have received a statement from my personal pension provider that seems to show that my fund at retirement will be worth less than it is today, even if it grows at 5 per cent a year. Can this possibly be right?


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