FORMER M&G institutional manager Jonathan Parker has been bought in to co-manage the Investec UK Blue Chip fund as part of a move to turn the performance of the vehicle around.
The fund, which was previously managed solely by Christine Baalham, has lagged the IMA UK All Companies sector over the last three years. The company has taken the decision to introduce a co-manager and alter the mandate in an attempt to reverse the trend. The fund, which uses Investec’s 4Factor process, will now be permitted an increased tracking error of between 4pc to 5pc in an attempt outperform the FTSE All Share index by at least 2pc. To do this, the 3pc underweight limit it had on individual stocks has been removed, while on a super sector level it can go overweight or underweight...
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