Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration 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 Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Play Boutique tapes: are top managers better off at small firms?

Boutique tapes: are top managers better off at small firms?

In episode three of our series, boutique bosses discuss whether the best fund managers are more likely to thrive at smaller firms.

Play Boutique tapes: if you want a Ferrari, you have to pay for it

Boutique tapes: if you want a Ferrari, you have to pay for it

In the second part of our four-part series, boutique bosses are asked how they can justify the fees charged by active managers.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter