Credit Suisse Asset Management's transatlantic fund manager Susan Everly will leave the group at the end of the year when she relocates her family from New York to Ohio.
Everly, who has managed the £232m portfolio since April 2000, will remain with the company for around six months to ensure a smooth handover to her successor, veteran CSAM manager Hugh Neuburger.
Neuburger, who is also based in New York, currently runs a core equity institutional fund benchmarked against the S&P 500 index. He joined the group in 2000.
Everly has been one of the biggest names in US equities but the fund has suffered relative underperformance for some time, prompting a number of IFAs to remove the fund from their buy lists. Few have expressed surprise at her departure despite CSAM's insistence that she is leaving for purely personal reasons.
Bestinvest fund analyst Rob Harley says: “It comes as no shock. She took over at a difficult time but the fund struggled under her leadership for all but around the first four months. She and her team just were not making the right calls.”
CSAM managing director Ian Chimes says: “We be making sure Hugh will be visiting the UK soon in addition to sending out a series of bulletins so that IFAs will be kept informed of what is happening.”