View more on these topics

LeggMason and Premier lose star managers

LeggMason and Premier Asset Management have become the latest investment houses to be hit by high-profile departures, with the resignations of fund managers Chris White and Peter Webb respectively.

White, who runs Legg Mason&#39s monthly income and UK income funds, is leaving to head Threadneedle&#39s UK equity team.

Unicorn chief executive Webb has resigned from managing Premier&#39s UK smaller companies fund.

LeggMason international utilities trust manager Andrew Whalley will take over the running of its UK income fund and the 30 per cent segment of its monthly income fund not managed by sister firm Western Asset Management.

Premier has yet to line up a replacement for Webb – whose contract expires at the end of the year – and could even sell the £10m fund to smaller companies specialist firm Unicorn if it cannot find a suitable candidate to take over.

IFAs say the loss of Webb will hit Premier hard as he is rated as one of the top-performing managers but they believe LeggMason&#39s recent appointment of Keiran Gallagher as chief investment officer will go a long way towards softening the blow of White&#39s departure.

Hargreaves Lansdown inv-estment manager Ben Yearsley says: “Chris White will be a loss to LeggMason but with people like Keiran Gallagher it will not be too disruptive.

“However, Webb is a huge loss to Premier – even though the fund he managed was small – because he is such a topquality manager.”


&#39DPS will undermine independence&#39

Standard Life is focusing its response to CP121 with an attack on the defined-payment system and warning that undermining the IFA sector will not help consumers.The company is also concerned that product providers may use equity investment in IFA firms as a means of influencing distribution to the detriment of consumers.It says the DPS will […]

The final hurdles

Just when the FSAVC review finishing tape is in sight and you are coasting to the line, do not forget there are still a couple of hurdles to clear.As the next date for disk and paper returns to be in is May 10, now is a good opportunity to remind firms that a race is […]

HSBC – Pep Plus

Monday, April 29, 2002Type: Dublin based closed ended fund for Pep maturitiesAim: Growth by investing in HSBC UK equity growth 7Minimum investment: Lump sum £3,000Investment split: 100% in HSBC UK equity growth 7Yield: 70% of growth in FTSE 100Charges: Initial 5.25%, annual 0.75%Commission: Initial 3%Tel: 0800 181890

Brave annuity world

Acres of newsprint have been devoted to Gordon Brown&#39s Budget, so a few more inches will not hurt.It is trite to say that this is the most significant Budget produced by Brown since he became Chancellor. The headlines were grabbed by his gamble in raising National Insurance contributions to pay for the National Health Service. […]


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