JO Hambro is in the process of obtaining authorisation for four Oeic funds aimed at the retail marke...
JO Hambro is in the process of obtaining authorisation for four Oeic funds aimed at the retail market for launch in the middle of October, writes Adam Lewis.
These will be a European portfolio to be run by Rod Marsden and a UK Growth fund run by Mark Costar. In addition, Max King will manage UK Emerging Companies and UK Recovery portfolios. The group is considering whether to make these available as Isas.
King has been a sub-adviser to the Premier UK Emerging Companies fund, a £25m spoke in Premier's £100m Luxembourg Sicav.
JO Hambro is now to end this relationship with Premier and offer shareholders in the Sicav an in specie rollover into the new Oeic.
Jonathan Fry, managing director at Premier Asset Management, said the options for shareholders will be to stay in the fund, rollover into the Oeic, or go into Premier's UK Smaller companies fund, run by Peter Webb.
Both Marsden and Costar will join JO Hambro next month. Marsden was former fund manager of Sanwa European Growth and Costar was a UK fund manager at Clerical Medical, responsible for its UK Growth and UK Equity Life funds.
Over three years to 8 August 2001, Sanwa European Growth is ranked second on an offer to bid basis in the Europe ex-UK sector, returning 23%, compared to the sector average of 1.1%.Investment Week 20 August 2001
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