full equity and fixed income staff REvealed while discussions still ongoing with regard to possible redundancies
nsight Investment has named its full equity and fixed income teams in light of its finalised acquisition of Rothschild Asset Management (RAM).
Although the announcement leaves 14 lead or deputy fund managers unaccounted for, 11 from Insight and three from RAM, the group would not confirm redundancies, claiming talks are still ongoing with many of these individuals on their future career direction. The group did say it is unlikely to find positions for all these managers, however.
For more on these managers, see page one.
Of the 32 Insight and Five Arrows retail funds, 20 will see a change of lead manager as part of this restructuring exercise.
Global retail sales director at the group Stuart Alexander said Insight sends out a regular monthly newsletter to keep investors informed of such changes and will also produce ad hoc updates if any of this restructuring leads to fund mergers or other significant changes.
He added the restructuring has so far not led to redemptions on funds, stressing the lead managers on the group's three core areas, UK, Europe and fixed interest, have remained in place. With the Insight funds, the managers in these areas were the only ones to retain their lead portfolio management responsibilities, namely Tim Rees, William Claxton-Smith and Neil Pegrum on the UK side, Ian McNeill and David Headland on Europe and Peter Geikie-Cobb on fixed interest.
Of the eight Five Arrows retail funds, four will retain their existing Rothschild managers ' Adrian Grey on European Bond, Lucy Speake on Monthly Income and Crispin Cripwell on North American Opportunities. These three were appointed as desk heads last month and Stuart Cox, manager of Five Arrows Japanese Opportunities, has also just been confirmed as a member of the Insight's Japan team.
With the other Five Arrows funds, Insight's George Gosden is to take over Asian Opportunities from Bernard Lim, who ran the fund out of Singapore and did not come as part of the RAM acquisition. Gosden already runs the Halifax Far Eastern fund for the group, coming under the overall HBOS umbrella. He is also to take on the Insight Asia Pacific Equity fund vacated by Garry Mackenzie.
Insight's David Headland is to run Five Arrows European Opportunities, with former manager Gary Clarke already having left the group to join Gartmore.
Five Arrows UK Major Companies is to be run by ex-RAM manager Charles Deptford and Five Arrow's UK Smaller Companies has been taken on by Paul Marriage.
Of the better-known Five Arrows managers, Crispin Cripwell will take on both Insight branded US funds, Equity and Select Opportunities, in addition to maintaining his existing Five Arrows North American Opportunities portfolio. He inherits Equity and Select Opportunities from James McLellan and Dominic Neary respectively, with the former omitted from the lists of managers released by Insight and the latter part of the global equities team.
Now the group's fund manager structure is in place, the next step is to merge away the Five Arrows Oeic, primarily because Insight is not allowed to continue using the Five Arrows or Rothschilds brands. The Five Arrows funds will move to the Insight Oeic and duplicate funds will be merged in due course.
Commenting on the restructured equity and fixed interest teams, Insight's institutional chief investment officer Alan Denholm said the group is now well placed to achieve its strategic objective of UK, European and pan European equities within the next five years.
Pension savers need to engage with their retirement options far earlier than is currently normal to ensure they save enough through their lifetime, according to a report from the Association of British Insurers (ABI).
The majority of financial advisers (85%) believe the number of self-invested personal pension (SIPP) providers will continue to fall in the coming year, according to Dentons Pension Management research.
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