Margaret Roddan, Perpetual's Standard & Poor's AA-rated European fund manager, is leaving the group ...
Margaret Roddan, Perpetual's Standard & Poor's AA-rated European fund manager, is leaving the group to spend time with her family and decide on her future in the industry, writes Robert Stock.
Roddan, who has been with Perpetual for nine years has run the European Growth unit trust since 1992. She said she wanted to make the move two years ago but was persuaded to stay by CIO Bob Yerbury.
She is leaving at the end of March and will be replaced as head of the Invesco Perpetual European Core Fund by Jeffrey Taylor who has managed the Perpetual European Investment Trust since 1999. Taylor will be assisted by John Surplice who joined Perpetual in 1995.
Roddan said Taylor and Surplice have been responsible for stock selection while she has had a portfolio construction and strategy role.
She said: "Over the past two years my job has changed in that I have been becoming more involved in a management role but the team was not ready two years ago for me to leave. For the past 18 months they have been pretty much running the portfolio."
Roddan would not comment on whether she would return to the industry at a later stage.
Paul Bruns and Elaine Parkes
3,000 left to transfer
Record numbers of people aged 90 plus
From 3 to 10 October