Govett Investments has announced the resignation of one of its fund managers Rupert Walker, who refus...
Walker was disciplined earlier this year over his comments reported in newspapers that a small band of investment managers was issuing new split cap investment trust products on the market despite unacceptable risks due to the market downturn.
What made Walker's case special was that he became one of the first managers to openly criticise fund management companies and their advisors, although reports from brokerages had also mentioned the increasing risks
Govett admitted that its treatment of Walker by instituting summary dismissal was too harsh, but that an internal disciplinary appeal found that the decision to take action in the first place was warranted.
Walker was offered work, but not in his previous capacity as a bond fund manager.
Lack of innovation for solutions
Achievements, charity work and other happy snippets
Appetite has suffered since Brexit vote
'Failure to pay attention can result in enforcement'
200,000 LISAs opened so far