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A-rated Spencer to run Templeton UK small cap fund as Sharp exits
by Emma Dunkley on Jun 18, 2012 at 15:17
Sharp, who joined the firm from Maunby Investment Management in 1991, assumed control of the fund in 1995.
Sharp's performance has been hit by the market volatility of recent times. In the three years to 15 June the fund has returned 22.4%, well short of the 52.9% gain in the benchmark.
Meanwhile Spencer has delivered 74.2% on the UK Mid-Cap Growth fund, beating the benchmark’s 52.9%
Sharp, who is leaving the firm on 22 June, also managed the small cap portion of the team-managed Franklin UK Managers Focus fund . Spencer and Bullas will now be responsible for running this portion.
Although Bullas will be involved in the day to day running of the portfolio, Spencer will make the ultimate investment decisions.
The fund will use the same investment process and style as the Franklin UK Mid-Cap fund run by Spencer.
After Spencer left the firm in 1995 to join Granville Davies, he rejoined Rensburg Fund Management in 2006, when he was appointed manager of the UK Mid Cap fund. He has more than 20 years’ experience as an analyst in this sector.
Meanwhile, Bullas has 12 years' experience in the UK small cap sector.
Before joining Rensburg, which was acquired by Franklin Templeton in 2011, Bullas worked at Aviva as a market analyst in the life and pensions sector. Prior to this, he spent a short time working at a chartered accountants for the audit team.
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