Rathbones has confirmed Carl Stick's appointment as permanent manager of the UK Special Situations f...
Rathbones has confirmed Carl Stick's appointment as permanent manager of the UK Special Situations fund, replacing Patrick Evershed.
Along with Special Situations, Stick now manages the Income, Smaller Companies and, on a temporary basis, Capital Growth.
Peter Pearson Lund, managing director of Rathbones Unit Trust Management, said the performance of the funds proved Stick was more than able to cope and the actual overall pot of money he manages is only around £130m. The group is also actively seeking to bolster its UK team by appointing a senior fund manager.
Pearson Lund said: 'We are looking for someone with large-cap expertise. Stick currently manages Capital Growth on a temporary basis and if we find a large cap manager they will probably take this fund over.'
He added Stick has worked alongside Evershed for a number of years and having a proven track record in small caps, an asset class often heavily overweighted in the fund. Rathbones' internal succession plan remains intact, despite Evershed's departure.
Pearson Lund said Rathbones has two assistants to its fund managers, James Thomson and Marina Bond, both of whom are likely to begin managing money in around 12 months. Thomson has been assisting on Rathbone Technology and Rathbone Global Companies, while Bond has been assisting on Smaller Companies, which gives an indication of funds they are likely to take over, Pearson Lund added.
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