Adrian Frost is considering a switch to global equities if he returns to Deutsche Asset Management f...
Adrian Frost is considering a switch to global equities if he returns to Deutsche Asset Management for the long term following his forthcoming six month sabbatical.
In an interview with Investment Week, Frost, who starts a sabbatical on 1 April, said his future role with the group would not be decided until the autumn.
He is stepping down as manager of the AA-rated Deutsche UK Equity Income unit trust, the Deutsche Equity Income investment trust, the pension mandates he runs and giving up the post of head of UK equities.
He has indicated an interest in running global portfolios in the future.
Frost said: "This is an issue. The career of a fund manager terminates somewhere around age 50. I am now 43 and would much rather think about a change now than wait, and in 10 years time think 'I wish I'd done that'.
"I have been working on UK equities but it would be quite interesting to see if I could make a go of something else."
Frost is aware that the market might well draw a parallel between his decision to take a sabbatical and that of Jupiter's William Littlewood last year.
He added: "William is a brilliant individual investor with great ideas. The ideas at Deutsche for the portfolios are generated by the team."
Frost intends to use the six month break to avoid fund management altogether and said he would not consult with anyone at Deutsche, or any other group, on his future during this period.
In addition he said, were he to be unable to reach agreement with Deutsche he would sign a contract with the group stating that he would not poach any member of Deutsche's staff for 18 months. He stressed he has no intention of wanting to set up an investment boutique.
Frost said: "I want to send a significant message to the market place that I am going to do nothing to upset the stability of the team."
Frost made it clear that he preferred running retail money to institutional, as "the diverse client base makes it more interesting."
Contract withdrawn from Standard Life Aberdeen
Third completed acquisition of 2018
March sales figures revealed
Three big drivers
No easy answers