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Roe-Ely to leave JOHCM

JO Hambro Capital Management fund manager Nick Roe-Ely is set to leave the company following its decision to close his £13m American growth fund.

Roe-Ely, a mid-cap specialist, joined JO Hambro from Tilney in June 2005 with the fund launching in December.

A lack of investment in the US has led to the company deciding to shut the fund which has been second quartile in the past 12 months in the IMA North American sector.

Marketing director Sven Kuhlbrodt says: “It is likely that Nick will leave. He has been a star manager for a number of years but his style has not been in favour for some time as most of the demand for US equities has come from the large-cap arena.

“Shareholders have been informed and there is no official winding up date for the fund as yet. We will be offering free switching in a bid to help shareholders as much as possible.”

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