The Swip UK income fund is one of the funds set to move to a quantitative strategy, Money Marketing understands.
In April, Swip said it is to cut 23 roles as part of moves to reposition its £54bn equity business. This involves some funds moving to a quantitative portfolio construction, where all rebalancing decisions will be made automatically while other smaller funds will be closed.
Last month, it announced the departure of head of UK equities Peter Cockburn. His funds, the £118m UK opportunities and £280m UK select growth funds, have been passed to James Clunie.
A Swip spokeswoman would not confirm the funds moving to a quantitative strategy. She says: “A number of Swip managed UK equity funds are transitioning to a quantitative portfolio construction methodology.The transition is being managed by the global equities team.”
But Swip has confirmed that the £49m UK smaller companies fund will continue to be actively managed. It is managed by the firm’s global equity desk.