Royal&SunAl US manager leaves in May

Royal & SunAlliance Investments' US fund is to have its third fund manager in six months once Julian Cook departs in May. The group is to recruit externally for a replacement to take over Royal & SunAlliance North America from the middle of next month. Cook leaves to join Morgan Stanley Dean Witter North America is run on a top-down basis, with large blue chip stocks making up between 50% and 75% of the portfolio, and the fund typically holds around 65 stocks. The top 10 holdings make up 28.16% of the portfolio, with the biggest five being Intel, General Electric, Clena, PCS Group and ...