Investment Management Selection (IMS) is to cease providing input into Edinburgh Portfolio's (EP) fu...
Investment Management Selection (IMS) is to cease providing input into Edinburgh Portfolio's (EP) fund process in December.
The relationship comes to an end when the current contract runs out at the end of the year. At present, IMS's involvement with EP has been restricted to advising on Asia and Japan.
This area will now be covered by John Livingstone, joint head of managed funds research at EP, who joined in July.
IMS had originally advised on all the EP funds but its role was cut back at the start of 2002 when Mark Harris arrived at EP from HSBC to run much of the money.
Paul Talbot, managing director at EP, said: 'We have managed this change over the past 12 months and both have a vested interest in protecting our long-term track records. The arrangement has come to a natural end and the reliance on one another has disappeared.'
EP has been building its team under Harris and Talbot is confident it has the necessary resources in place. 'The basic way we manage our money hasn't changed,' he said. 'We have five full-time professionals and could treble our assets under management with the same team.'
Both groups believe they are ideally placed to pick up their share of the multi-manager market.
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