Marsden leaves Sanwa

Rod Marsden, fund manager of Sanwa European Growth, has resigned from the group to join JO Hambro Capital Management, writes Adam Lewis.

Marsden will join JO Hambro in the autumn and it is expected he will run a new European retail fund but details of exactly what this will be have yet to be decided.

Over three years to 4 July 2001, the £23.1m Sanwa European Growth is ranked second on an offer to bid basis in the Europe ex-UK sector, returning 23.5% against the sector average 2.4%.

Bruce Offergelt, joint chief executive at Sanwa, said that over Marsden's eight years with the group, he had built a strong and efficient investment process and established a strong team of four around him. He said that Sanwa is now looking at re-organising that team to accommodate his departure.

Offergelt said: 'Marsden will be with Sanwa until September where he will oversee the smooth transfer of responsibilities and ensure the fund continues to build on the solid foundations he established.'

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