Rathbones has received FSA approval to launch a recovery fund from the merger of its Special Situations and Smaller Companies vehicles.
The Rathbone Recovery fund will launch on 13 July, subject to unit holder agreement. Co-run by smaller companies managers Julian Chillingworth and Marina Bond, the fund will invest in firms with recovery potential which has not been identified by the wider market. It will also look out for sector and stock-specific problems, companies' managerial issues and changes in investor sentiment. Special Situations manager Carl Stick will continue to run the Rathbone Income fund. The Rathbone fund will be up against two established vehicles in this area, the Tom Dobell run M&G recovery and the ...
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