View more on these topics

Farthing and Euro team leave Old Mutual

Old Mutual Asset Management has parted company with its four-man European team headed by Adrian Farthing.

It is believed that the team has been replaced by Omam with immediate effect.

The fund manager would only say that institutional manager David Ross would take over the running of Farthing&#39s three funds.

The team has been responsible for the European bluechip, the European and OM Gerrard European growth funds, all of which have been languishing near the bottom of the fourth quartile of their sectors for some time.

In addition to his considerable institutional responsibilities on the retail side, Ross, with his team of six, also runs the Old Mutual North American, OM Gerrard North American and OM Gerrard ethical funds and its flagship hedge fund.

Farthing joined the fund manager from Hill Samuel just over three years ago and it is thought that his growth approach to running the funds did not mesh well with Omam&#39s approach.

Hargreaves Lansdown head of research Mark Dampier says: “The news does not come as a great surprise. I think both Adrian and Old Mutual have been disappointed by the performance of the funds.

“Adrian has been a full-on growth manager and that does not fit in well with the Old Mutual approach.”

An Omam spokesperson says: “We have decided to move the European funds over to the structured desk to imp-rove their performance.”

Recommended

Flight leaves IFA post for Shadow Cabinet

IFA champion MP and Investec co-chairman Howard Flight has been promoted to the Shadow Cabinet but will no longer represent IFAs&#39interests in Parliament.Flight&#39s promotion to Shadow Treasury Chief Secretary from Shadow paymaster general follows Conservative Party leader Iain Duncan Smith&#39s recent frontbench reshuffle.Flight has repeatedly raised the plight of IFAs in Parliament, taking the lead […]

IFA sues over buy-to-let loans

A former IFA with the Chancery Asset Management Group, Chris Herbert, is suing broker Chancery Mortgages and lender Capital Home Loans for &#39lost&#39 fees. Herbert says Capital told him a loan on five buy to let properties would be considered using normal underwriting criteria, despite tenants being reformed drug addicts and alcoholics. Three months later […]

American Express launches seven new funds

American Express Bank is launching seven new global sector investment funds in the UK as part of its European expansion plans.The new additions – including the Global Emerging Markets, Global Healthcare Equities and California Equities funds – have been designed to offer investors access to global sector funds that are not limited to specific countries […]

Two more splits hit bottom

The board of Aberdeen Asset Management&#39s high income split cap investment trust called in the receivers this week and another, the Yeoman Investment Trust suspended its shares as the outlook for the sector continued to worsen. High income along with the Aberdeen leveraged income suspended its shares on July 18, and is now unlikely to […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com