Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Coffey faces uncertain future as RLAM passive switch sparks exits

Coffey faces uncertain future as RLAM passive switch sparks exits

Royal London Asset Management (RLAM) has moved its Japan and Far Eastern assets to passive styles, resulting in the departure of managers Jonathan McClure and Edward Chan and leaving the future of equity head Jane Coffey unclear.

The switch means McClure’s £289 million Japan Growth fund and Chan’s £478 million Far East fund, as well as £360 million in separately managed mandates in these regions, will transfer to the firm’s existing passive team.

As part of the changes, RLAM also said it is currently in discussions with Coffey, manager of the UK equity fund, as to how she will be impacted.

The firm said the changes, which are subject to shareholder vote and FSA approval, come after a period of consultation with clients and regulatory authorities.

RLAM said: ‘We remain fully committed to the active management of equities in those areas where we believe that we can best add value for our clients and have a competitive advantage.’

The firm’s switch to passive management follows a similar move by Scottish Widows Investment Partnership last year, after it shut down its regional equity desks and cut around 23 investment roles.

SWIP reorganised its equities business so that a range of equity strategies were moved to quant models, rather than active management.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Play Japan's slump, the umbrella revolution and the battle for Brazil

Japan's slump, the umbrella revolution and the battle for Brazil

With the arrows of Abenomics appearing to be missing their targets and political uncertainty rife in Hong Kong and Brazil we take a look at investor sentiment in this week's Investment Pulse

Your Business: Cover Star Club

Profile: The adviser that tempted Robin Minter-Kemp on board

Profile: The adviser that tempted Robin Minter-Kemp on board

It is rare to meet an impassioned individual who is willing to bang the drum for investment advisory right now

Wealth Manager on Twitter