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JO Hambro Capital frees AAA-rated Savvides to focus on UK Dynamic
by Chris Sloley on Feb 20, 2014 at 14:50
JO Hambro Capital Management (Johcm) has rearranged the fund manager line-ups across its UK equity funds in order to allow Citywire AAA-rated manager Alex Savvides to focus on his top performing UK Dynamic fund.
The changes, which took place at the end of 2013, mean Savvides is no longer support manager on the Johcm UK Growth fund.
This fund continues to be run by Citywire AA-rated manager Mark Costar.
Analyst Tom Matthews, who joined JO Hambro in November 2013, will now serve as support to Savvides on the €135 million fund.
Speaking to our sister publication Citywire Global, a spokesperson for JO Hambro said: ‘As a result of an internal reorganisation, Vishal Bhatia was promoted to the number two manager for the Johcm UK Growth fund, a role previously held by Alex Savvides.
‘Alex now dedicates all his time to the management of the UK Dynamic Fund.‘
In his most recent fund update, Savvides said he had taken the Johcm UK Dynamic fund onto a higher conviction footing, having cut 10% of his holdings.
The Johcm UK Dynamic fund returned 48.6% over the three years to the end of January 2014. This compares with a 27.65% rise by its Citywire benchmark, the FTSE All-Share TR, over the same period.
The Johcm UK Growth fund returned 43.12% over the same period against the same benchmark as the firm’s other UK equity fund.
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