Andrew Impey, UK smaller companies fund manager, and Tony Parker, European fund manager, are leaving...
Andrew Impey, UK smaller companies fund manager, and Tony Parker, European fund manager, are leaving Dresdner RCM in mid July to join a start-up fund management investment boutique, writes Jenne Mannion.
Impey manages the £57m Dresdner RCM Smaller Companies UK investment trust and the £195m UK Smaller Companies unit trust. Tony Parker is fund manager of the £112m European and £195m European Smaller Companies unit trusts. Dresdner is now actively recruiting for replacements.
In the interim, Paul Sheehan, who manages the Jos Holdings investment trust and the Dresdner UK Income Equity unit trust will take over management of the Smaller Companies UK investment trust. Derek Lygo, manager of the Dresdner RCM UK Mid-Cap fund, will manage the UK Smaller Companies unit trust.
Juliet Cohn co-manager of the Charter European investment trust will take over management of the European fund and European Smaller Companies fund, until a new fund manager is recruited.
The Dresdner RCM Smaller Companies UK investment trust is ranked seventh of 30 funds in the smaller companies UK sector over three years and third of 32 funds over one year to 7 June. Over three years the share price returned 82.9% while over one year the share price rose by 100.4%.
The UK Smaller Companies unit trust is ranked 19 of 69 funds over three years offer to bid to 7 June, and seventh of 76 funds over one year, in the UK smaller companies sector.
Dresdner RCM European Trust, with a Standard & Poor's frA rating, is ranked 16 of 91 funds over three years in the Europe excluding UK sector and 24 of 103 funds over one year, offer to bid to 7 June.
The frA rated Dresdner RCM European Smaller Companies fund is also a strong performer, being ranked third of 13 funds in the European smaller companies sector over three years and fifth of 15 funds over one year, offer to bid to 7 June.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till