Deutsche Asset Management is to close its London-based US, Japan and emerging markets desks and outs...
Deutsche Asset Management is to close its London-based US, Japan and emerging markets desks and outsource the analyst coverage of these regions to recent acquisition, US-based, Scudder Investments.
Investment Week understands Charles Martyn-Hemphill, manager of Deutsche's AA rated American Growth Fund, and James Pulsford, manager of the AA Deutsche Japan Growth Fund, will continue to run their respective funds from London, but using stock research from Scudder's US and Japanese analyst teams.
Senior members of both desks in London were offered the opportunity to move to the overseas Scudder analyst teams, but only a handful agreed and it is understood eight analysts have left the group.
Martyn-Hemphill spent a number of weeks in the US helping prepare for the switch in recent months.
Martyn-Hemphill has run the AA-rated fund since launch in March 1988, and the fund has delivered top quartile performance over three, five and 10 years to 11 January.
Deutsche's emerging markets analyst coverage will also be outsourced to Scudder.
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