Cazenove to close desks

Cazenove will seek to close a number of its regional desks, repositioning itself as a specialist investment house. The group has already closed its internal emerging market equity desk and outsourced management of its emerging market fund to Angus Tulloch at First State Investments. Although Cazenove refused to comment on plans for its Japanese, Far Eastern and US desks, Investment Week understands each is to close. Cazenove is expected to outsource the management of its assets in each region to external fund management groups following the example it set with First State Investments....