Veteran Vaudin leaves Ashburton

Ashburton’s veteran European manager Calvin Vaudin has left the company and handed over the Ashburton European Equity fund to his co-manager Richard Robinson.

The group said Vaudin had left for personal reasons and is not believed to be moving to another group. Robinson has co-managed the (Ashburton European) fund for the past six years.

Peter Bourne, managing director at Ashburton, said: ‘Richard has already made a significant contribution to the success of the European equity fund over the past few years. Richard will be assisted by Nicky Ludlam, a highly experienced and capable investment manager, who is currently a member of the asset allocation team.

‘We would like to thank Calvin for his contribution to Ashburton and the performance on this fund, and we now look forward to its continued success under Richard’s management.’

Ashburton is pressing ahead with announcements on new initiatives in its European fund range next week, despite Vaudin’s departure.

Vaudin’s long-term performance on the fund has been impressive. Over the five years to the end of August he has delivered a return of some 135%, nearly doubling the 68% return offered by the MSCI Europe index, (ignoring the effects of initial charges, with gross income reinvested at the payment date), according to Lipper.