Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

A-rated manager among trio of RLAM exits

A-rated manager among trio of RLAM exits

A trio of former Co-operative fund managers has left Royal London Asset Management, Wealth Manager can reveal.

Linda Desforges, who was head of external funds, resigned unexpectedly this week; it had been planned for her to remain at the business.

Desforges managed the £220 million CIS European Growth, £149 million CIS US Growth and £246 million CIS Sustainable Diversified funds. Royal London has yet to determine the future of the funds.

Sustainable Diversified is a top-quartile performer in its Mixed Investment 20-60% Shares sector over the past three years, returning 28.2% compared with a peer group average of 15.4%. European Growth is fourth quartile through the same period and US Growth third quartile, although the latter is first quartile over the past year.

As part of the integration of the Co-operative business, Citywire A-rated UK equity manager Neal Foundly and bond manager Daniel Fox have also departed Royal London.

Foundly ran the £429 million CIS UK Income With Growth Trust, which has returned 30.6% over the past three years compared with an average of 28.5% from its UK Equity & Bond Income sector.

Fox headed the £358 million CIS Corporate Bond Income Trust, which has generated 14.7% over the past three years, lagging its Corporate Bond sector’s average of 19.6%.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge: bonds with Ian Spreadbury

Brewin's Gutteridge: bonds with Ian Spreadbury

This week Brewin Dolphin's research head chats to Fidelity's Ian Spreadbury about the recent behaviour of interest rates and credit spreads.

Brewin's Gutteridge: Yuan direction

Brewin's Gutteridge: Yuan direction

This week Brewin Dolphin's research head chats to Fidelity Asian Investment Directors Jenny Lee and Gary Monaghan about the big changes in China.

Play On the Road Challenge: horsing around on the polo pitch

On the Road Challenge: horsing around on the polo pitch

Libby Ashby takes to the polo pitch with Stuart Leigh-Davies from Redmayne-Bentley for an 'On the Road' challenge.

Your Business: Cover Star Club

Small is beautiful: wealth firms still see value in less rich

Small is beautiful: wealth firms still see value in less rich

Latest statistics from findawealthmanager.com show that there are many firms who still service smaller clients.

Wealth Manager on Twitter