Veteran fund manager Nils Taube has died at the age of 79 following a stroke.
Taube was the longest-serving fund manager in the UK, having run retail and institutional funds since 1969 when he took over the St James’s Place greater European progressive trust.
He was born in Estonia in 1928. Taube moved to the UK in 1946 following six years in Germany after he escaped the Soviet occupation of Estonia.
He began working in the City of London in 1948 when he joined stockbroker Kitcat & Aitken, rising through the ranks to become a senior partner in 1975. Taube’s profile rose further in 1982 when Lord Rothschild bought 30 per cent of the Kitcat & Aitken business, with Taube becoming manager of the quoted portfolio of investments of the J Rothschild group.
His relationship with the firm lasted for 14 years until he founded his own boutique in 1996. He served as chairman at Taube Hodson and Stonex until he retired in 2006, increasing total assets under management in THS Partners to over £9bn.
Taube’s enthusiasm for the business led him to launch his own firm, Nils Taube Investments, in early 2007. He surrounded himself with former colleagues, including Chandos Gore Langton, who previously worked at Credit Suisse as director in the UK private banking division. April 2007 saw the launch of the S&W Taube global fund, with an offshore fund following in December.
Taube’s track record of outperformance in global equity markets stands up to any manager, having delivered compound annual returns of 14-15 per cent.
A particular highlight was his anticipation of the 1987 crash when he shorted stocks ahead of a fall in prices.
Gore Langton says: “It has been an honour working with Nils for 35 years and he will be dearly missed as both a colleague and a close personal friend. I was constantly impressed with his energy and passion for managing money, his ability to see opportunities and to take adv-antage of pricing anomalies. His timing was impeccable and no market crisis could dampen his spirit.
“He developed and employed investment principles for outperforming the global markets over the long term which have been drilled into the investment process here at NTIL.”
Taube is survived by his wife and three sons.