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: what's behind the second oil crash?

Brewin's Gutteridge: what's behind the second oil crash?

This week Brewin Dolphin's research head talks to Will Riley, co-manager of the Guinness Global Energy fund, about what next for oil.  

Play AA-rated Bullas: what drove my UK small cap outperformance

AA-rated Bullas: what drove my UK small cap outperformance

AA-rated Richard Bullas has quietly been making a name for himself at the helm of the Franklin UK Smaller Companies fund.

Play Sector spotlight: how Harwood's Philbin is playing emerging markets

Sector spotlight: how Harwood's Philbin is playing emerging markets

Emerging markets have been a rollercoaster for investors, but amid the doom there have been have been bright spots, such as India. 

Your Business: Cover Star Club

Profile: CHI's bond supremo on liquidity and bond risk management

Profile: CHI's bond supremo on liquidity and bond risk management

'Some people have been extremely complacent about rate rise risk. Myself, I wish they would just get on with it.'

Wealth Manager on Twitter