Investec's top-performing UK Smaller Companies manager Philip Rodrigs is to leave the company.
Rodrigs (pictured), who has been at Investec since 2006, is to join River & Mercantile as a partner in March.
He will take over management of the group's £110m UK Equity Smaller Companies fund - currently run by former Investec colleague Dan Hanbury - in September, and work alongside Hanbury to develop R&M's small cap and UK Equity Unconstrained funds.
Rodrigs' Investec small-cap portfolio, meanwhile, has been taken over by Ken Hsia with immediate effect. Hsia has been alternate manager on the fund for the last 10 years.
Now £577m in size, Investec UK Smaller Companies is top quartile over one, three and five years, according to Morningstar.
Over the three years to 20 January, for example, the fund has made 81.2%, well ahead of the sector average of 61.6%.
The group moved to stem flows back in 2012 after assets swelled to nearly £500m.
Rodrigs' success on the fund saw him win the Outstanding Rising Talent award at the Morningstar OBSR awards back in 2012, while he also took over management of the smaller Investec UK Alpha fund in April of that year.
David Aird, managing director, UK client group at Investec, said: "Ken is a long standing member of the team and is incredibly well experienced in the investment process, so it is a simple and easy transition."
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From 6 April 2019