9 September 2014 - The last week has seen two high profile managers leave their jobs: Simon Brazier and Julie Dean.
On 3rd September, Threadneedle announced that the manager of the Threadneedle UK fund, Simon Brazier, along with his co-manager Blake Hutchins and three support analysts, were leaving Threadneedle to join Investec Asset Management, in November. Chris Kinder, who manages the Threadneedle UK Extended Alpha fund, has been appointed new manager with immediate effect.
Simon, Blake and the three analysts will work alongside Alistair Mundy, manager of the Investec Cautious Managed and Investec UK Special Situations funds, the latter being one of the Chelsea Selection. Simon will run UK equity funds consistent with his current strategy.
Juliet Schooling Latter, research director, Chelsea comments: “This is a real coup for Investec and will strengthen their UK equity team, but a blow to Threadneedle. Leigh Harrison, manager of the Threadneedle UK Equity Alpha Income fund (also on the Chelsea Selection) has assumed immediate responsibility for the Threadneedle UK equity team, so they are in good hands, but obviously depleted in number. We have given the Threadneedle UK fund a generic rating of ‘hold.”
Then, yesterday, Schroders announced that Julie Dean, manager of the Schroder UK Opportunities fund (previously named Cazenove UK Opportunities fund) has resigned.
Julie, who joined Schroders when they absorbed Cazenove Capital last July, is leaving and Matt Hudson, manager of Schroder UK Alpha Income, taking over the reins with immediate effect.
Schroders have assured investors that the objective on the UK Opportunities fund will not change and will have the same style (Business Cycle), but with a different lead manager. However, the fund has been removed from the Chelsea Selection and downgraded to a generic ‘hold’ rating.