RLAM hires Axa IM’s Marwood as senior fund manager


Royal London Asset Management has appointed Axa Investment Managers veteran Richard Marwood as senior fund manager.

Marwood was co-manager of Axa IM’s Distribution range and reported to head of the range Jim Stride.

At RLAM, Marwood will report directly to chief investment officer Piers Hillier. He will work alongside former colleague Martin Cholwill, the firm’s UK equity income fund manager, who also spent more than 20 years at Axa IM before leaving the firm in 2005.

RLAM has not revealed which funds Marwood will be working on, saying it will “look closely at potential fund opportunities playing to Richard’s strengths”.

Commenting on his move on the same day it was announced he was leaving Axa IM, Marwood said RLAM is a firm “very much on the front foot”.

Hillier says: “Richard is a key hire for Royal London Asset Management’s equity team. Richard’s strong history of managing equities across a range of market conditions will be valuable for RLAM and its clients as we continue to build out our offering in this area.”

RLAM’s equities team has £27.3bn of assets under management, with £17.5bn in UK equities.

Following the announcement that Marwood was leaving Axa IM, the Adviser Centre removed the Axa Distribution fund from its recommended list.

Jamie Forbes-Wilson, manager of the AXA Framlington Blue Chip Equity Income fund, and Jim Stride, head of distribution, will both manage the distribution fund.

City Financial head of investment research Gill Hutchison says: “We have high regard for Jim Stride, who has been working on the Distribution fund range since 1998, according to a stable, consistent and transparent investment process.

“That said, the team is currently in a period of transition as the new team members settle into their roles. On this basis we feel it prudent to remove the Axa Distribution fund from our recommended list while we see how the team develops.”



Andrew Tyrie condemns Treasury over OBR interference

Treasury committee chairman Andrew Tyrie has condemned attempts by the Government to make non-factual changes to reports from the Office for Budget Responsibility. Reports emerged in mid-September that Treasury officials had asked the OBR to alter the wording of its independent forecasts, including requesting the removal of references to “steep cuts”. While the phrase was […]


Sterling falls as Cameron announces EU referendum date

The pound is on-track for its largest one-day fall following the backing by several large groups for a Brexit, as Prime Minister David Cameron unveiled the date of the vote. At the weekend Cameron revealed the in-out referendum for the UK in the European Union will be held on June 23rd. The price of sterling versus the dollar […]


Moody’s issues fresh UK downgrade warning over Brexit

Ratings agency Moody’s has issued a fresh warning that a Brexit could mean it downgrades the UK’s credit rating. The agency argues the economic costs of the UK leaving the EU would outweigh the benefits, saying it would consider “reflecting those threats to the UK’s credit standing by assigning a negative outlook to the sovereign’s Aa1 […]


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

    Email: customerservices@moneymarketing.com