View more on these topics

Credit Suisse guru Mott is to step down

Income investment guru Bill Mott is to retire from Credit Suisse at the end of the month after 30 years with the group.

Mott was the long-term manager of the group’s flagship income fund and its monthly income sister portfolio before stepping back from their day-to-day running to take on a mentoring role in 2003.

Leigh Harrison took over the funds that year but subsequently left to join Threadneedle in 2005 and was replaced by Errol Francis.

Although the flagship income fund still has over £1bn invested in it, performance has slipped over the last three years and it is currently ranked 41 out of 71 peers.

Mott is the latest big name to leave Credit Suisse following the departures of head of retail Ian Chimes and sales director Mark Thomas in the summer.

Mott says: “My decision has been made much easier by my total confidence in the eight-strong UK equity team, and in particular Errol Francis as lead manager of the three income funds.”

Hargreaves Lansdown head of research Mark Dampier says: “Bill has an unparalleled macro understanding of stockpicking and could dejargonise the business brilliantly. I put him alongside Neil Woodford as a fund manager and he will be sorely missed by intermediaries.”

Bestinvest head of communications Justin Modray says: “Mott performed well in his heyday but since the late 1990s it is hard to measure his direct input as he stepped back from day-to-day fund management.”


Australian firm buys up Rufus

Australian technology firm Bravura has bought fund management administration firm Rufus from the Bank of New York for a fee that could rise to £32m.

A crazy Asp story

There must be a difference between abuse of rules and use of rules

Lloyds TSB rejects Axa and Swiss Re move for Widows

Lloyds TSB has rebuffed a joint approach from Axa and Swiss Re for its subsidiary Scottish Widows. It is understood that the two European insurance giants’ £8bn break-up proposals, which would have seen Axa take over the bulk of Scottish Widows, incl-uding Swip, and Swiss Re buying its closed life book, were rejected at an […]

Key points for FTBs

Helen Pow asks if the new public-private partnership is the best deal for first-time borrowers

What triggers the MPAA?

Jim Grant – Senior Product Insight & Technical Support Analyst There’s sometimes confusion around what triggers the money purchase annual allowance. Find out what does and what doesn’t trigger the MPAA. The money purchase annual allowance (MPAA) is a reduced annual allowance that can apply to contributions to defined contribution (DC) schemes. The following table […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm