Premier Portfolio Managers is to launch a Far East open-ended vehicle as a result of the recruitment...
Premier Portfolio Managers is to launch a Far East open-ended vehicle as a result of the recruitment of Richard Muckart, writes James Thorneley.
Muckart left Edinburgh Fund Managers, where he was head of emerging markets, in November. While at the group he managed Edinburgh Dragon and Edinburgh New Tiger investment trusts. Over three years the £169.7m Dragon trust's share price fell by 3.4% compared to an average fall in the Micropal Far East ex Japan peer group of 13.6%.
The group is looking to increase the number of funds it runs internally. Around 40% of the funds under management are run externally. Premier has not yet decided whether to launch the fund as part of its Luxembourg Sicav range or as part of its onshore Oeic.
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