Nick Roe-Ely has defected from Tilney to launch an onshore US Growth fund for JO Hambro Capital Management only months after insisting his future lay with his then employer.
Roe-Ely has managed the £31m Tilney American Growth fund since its launch in 1996. His long-term performance figures against the sector are favourable. Over the five years to 13 June, the fund has dropped 28.8%, compared to an average fall in the sector of 33.6%. This leaves it seventh out of 69 funds.
Roe-Ely has spent 21 years as a research analyst and fund manager of US equities. He has spent his entire career to date with Tilney Investment Management. The new fund will be JO Hambro's second onshore launch. In November, former Newton manager Clive Beagles unveiled a UK equity income fund. JO Hambro has a policy of paying performance fees and capping funds.
60+ £300bn ISA savings
Total funds on list rise from 26 to 58
What made financial headlines over the weekend?
Q2 net sales dropped almost 50%