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Morris quits HSBC after multi move

Flagship fund manager Bob Morris has left HSBC Asset Management just two weeks after the group decided to shift the running of 2bn of its core equity funds over to its multi-manager team.

Morris had been at HSBC for four years and took over the 1bn HSBC growth and income fund in 2002 after previous manager Tim Russell left to join Cazenove.

Chris Rodgers, the head of UK equities at Halbis, HSBC’s active fund management unit, will take over the fund. He also runs the group’s income and monthly income funds. Morris also ran HSBC’s recently launched 30m UK freestyle fund which will be taken over by Angus Parker, head of the Halbis’s European equity team.

Bestinvest head of communications Justin Modray says: “I will be surprised if Morris does not come back to retail but his recent performance has been indifferent.”

But Hargreaves Lansdown senior analyst Ben Yearsley says: “Morris has more or less matched Tim Russell’s performance since he left for Cazenove.”

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