Deutsche closes London desks

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 Sc...