Discretionary fund manager Clarion Investment Management has swapped WAY Fund Managers for Margetts Fund Management as authorised corporate director (ACD) of its £50 million fund-of-funds range.
Margetts will be responsible for the Cheshire-based firm’s £50 million three risk-rated funds, Prudence, Meridian and Explorer, from 1 February.
Clarion Investment Management managing director Ron Walker (pictured) said the firm had developed a close relationship with Margetts after working on the risk profiling of the funds since their launch in 2008.
‘Our relationship with Margetts has become increasingly close over the past few years and this appointment marks the next logical step,’ he said. ‘As we look ahead to the funds’ next five years I am sure that this appointment will help us to provide clients with the best possible experience.’
All three funds undershot the LCI Mixed Asset benchmark over three years, although the Prudence and Meridian funds outperformed the LCI UK Balanced and International Equity benchmark by a narrow margin over the same period.