David Mitchell, property fund manager at Scottish Widows Investment Partnership (Swip), has left the...
David Mitchell, property fund manager at Scottish Widows Investment Partnership (Swip), has left the firm to join Kilmartin Property Group.
At Swip, Mitchell managed a £291m commercial property fund called UK Balanced Property Trust, which was launched in March 2000.
Mitchell is to be replaced by Michael Cunningham, who joined Swip in September 2000. In addition to managing the UK Balanced Property Trust, he will maintain his duties running two Lloyds TSB property funds.
The group has seen a number of fund managers departures this year, starting with the losses of chief investment officer Sandy Nairn and head of retail funds Graham Campbell. The pair have now established their own business, Edinburgh Partners, and are waiting for FSA approval to manage a range of UK and pan-European funds.
It has also been confirmed that Dale Robertson, who resigned as Swip head of European equities two weeks ago, is to join Edinburgh Partners. Other former Swip managers set to join Campbell and Nairn include David Erskine, former head of European equity research, and Kenny Greig, former legal director.
Steve Anderson, who established the equity research portal Swip fund managers use, has also left to join the investment boutique.
Although Edinburgh Partners is remaining tight lipped about the type of business it will pursue, Investment Week understands it plans to pitch itself as a replacement manager for poorly performing investment trusts.
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