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Review of 2004: Fund managers

The year has seen the usual moves among fund managers, with one of the highest-profile movers being Clive Beagles, who quit as manager of the Newton higher-income fund in March to join JO Hambro Capital Management’s new UK equity income fund.

In April, star UK fund manager Neil Pegrum left Insight Investment after less than 18 months to manage both a hedge fund and a long-only portfolio for Cazenove Fund Management.

In July, five Investec fund managers, including Jeremy Rigg and Michael Rimmer, left suddenly after clashing with chief executive Hendrik du Toit over increased pay demands.

In September, Threadneedle Investments appointed Graham Kitchen as head of UK equities. Kitchen, formerly co-head of investment at Invesco Perpetual, now leads the equity team of 20 responsible for 18bn in assets under management.

Just this month, former Isis strategic bond and extra income bond fund manager James Foster announced he will be joining Artemis towards the end of the first quarter of next year.


Out of context

“I feel like I am walking into the lion’s den wearing a meat suit.” – Portfolio Insurance Consultancy principal Brian Lentz before an appointment with the FSA.”A duvet day! He won’t last long in PR.” – Penrose PR partner Louise Hatch about former MM investment editor turned PR Chris Duncan shortly before her departure.”Hello, I’m […]

Selestia introduces new charging structure

Selestia is replacing its existing pricing structure, which is effectively a percentage of client’s assets under management, with an explicit annual fee.From 1 April 2005, Selestia will levy a 75 annual fee per client, as opposed to the existing circa 25 basis point levy on their funds under management.At the same time, advisers will be […]

FSA investigates BIA on whole-of-life sales

Berkeley Berry Birch network subsidiary Berkeley Independent Advisers is being investigated by the FSA over the suitability of whole of life and regular savings plan sales. The products were sold between December 1, 2001 and September 27, 2004 and represent a total of 3,150 sales. BIA has since suspended sales of these products pending a […]


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