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Horlick gives up her fund role to run SG business

SG Asset Management&#39s high-profile fund manager and chief executive Nicola Horlick is relinquishing her role as joint chief investment officer to concentrate on running the business.

Horlick, who is also giving up the management of SG&#39s income fund to her assistant Adrian Gosden, will hand the CIO role to John Richards, who is quitting as lead manager of the UK growth unit trust to assume the position on his own.

Management of the UK growth fund will be taken over by Hugh Sergeant, who has been confirmed as head of UK equities after joining SG last week from UBS Global Asset Management. His colleague Hari Sandhu, who was also recruited from UBS, will manage a UK special situations fund that SG hopes to launch by the end of the first quarter of 2003. Both managers will also work on institutional mandates.

Horlick says: “We have fantastic depth of experience in our UK team and this structure will allow us to exploit its full potential. Hugh joins us after a period of leave and brings with him fresh and enthusiastic views of the markets.”

Bestinvest deputy managing director Jason Hollands says: “They seem like sensible moves. Horlick had not in reality been running the fund for a while and Sergeant and Sandhu are both credible managers.”

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