ISIS Asset Management is handing over management of its UK Dynamic fund to Mike Felton from previous...
ISIS Asset Management is handing over management of its UK Dynamic fund to Mike Felton from previous manager Rodger McNair as part of its plan to draw a line between its income and growth fund management teams.
Felton already runs a similar fund - UK Prime - which McNair says makes the handover a natural fit.
The takeover could also lead to the merger of the two funds, which already have many holdings in common.
Felton says he is committed to bringing the UK Dynamic portfolio in line with the UK Prime one, which would mean reducing holdings in BP, Glaxo, Vodafone, HSBC, Barclays, BT and Reckitt Benckiser, but increasing holdings in Shell, Royal Bank of Scotland and Lloyds TSB.
With a value of just £5m, the UK Dynamic fund could fairly easily be folded into the much larger £48m UK Prime fund.
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