Seven of NPI's 12-strong socially responsible investment (SRI) team, who are leaving to join CGNU's...
Seven of NPI's 12-strong socially responsible investment (SRI) team, who are leaving to join CGNU's investment arm, Morley Fund Management.
The company, which recently claimed to have the largest fund management team dedicated to SRI in Europe is to lose fund manager Clare Brook, assistant fund managers Linnet Cotterill and Peter Michaelis and research team members Fiona Cuthbert, Jo Johnston and Toby Balsom.
They are being joined by marketing team member Paul Moody.
Brook, director and fund manager of SRI for Henderson Investors, which provides fund mangement to NPI, will head the team and report to Gerald Holtham, Morley's chief investment officer.
The team, which also formed the SRI team at Hendersons, has five remaining members, including fund manager Kate Murphy, investment marketing manager Mark Campanale and researchers Alex Gozzi, James Giuseppi and Anne-Marie O'Connor.
Ian Buckley, global CIO at Hendersons, said the company was already talking to potential replacements and would be hiring at least two fund managers and three researchers. In the meantime the team would work out their notice at Hendersons to ensure a smooth transition. Buckley said the core personnel of the team had been retained.
Murphy has more than 10 years experience in managing SRI funds at Hendersons and investment marketing manager Mark Campanale is an original member of the team and a founding director of the UK Social Investment Forum. Gozzi and Giuseppi, who both joined Hendersons from NPI Asset Management, have expertise in the Asia Pacific region and UK equities respectively.
NPI's Global Care Income Fund recently celebrated its fifth anniversary. Currently valued at £91m, it has on average increased by 20.5% annually and by 170% over the fund's five year life-span.
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