Former Norwich Union fund manager Jeff Currington is to join HSBC Asset Management as head of Euro...
Former Norwich Union fund manager Jeff Currington is to join HSBC Asset Management as head of European equities on 6 May.
He is to run the group's £339m European Growth fund vacated by Chris Rice when the latter left to join Cazenove last September. Interim manager of the fund since Rice's departure, Andrew Koch, is to return to his portfolio duties as part of the European team. Currington left Morley Fund Management to join Swiss firm Pictet Asset Management in October 2001 to manage institutional money for the group.
Also head of European equities at Morley, Currington ran the then AA-rated Norwich European Equity fund from April 1996. Over three years to 1 October 2001, the fund returned 25.26%, offer to bid, against average peer group performance of 3.84%, ranking three out of 84 in the Europe ex-UK sector.
Managing director, institutional business, at HSBC Jonathan Polin said on top of the recent appointments of Chris Rodgers as head of UK equities and Chris Cheetham as global chief investment officer, Currington's hiring is further evidence of HSBC's long-term commitment to the retail market.
Since Rice's departure last year, the European Growth fund has fallen to the bottom of its European peer group, returning -4.2% offer to bid against a sector average of -2.0%, ranking 100 out of 112.
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