Philip Rodrigs is leaving Investec to join River and Mercantile Asset Management as a partner, Wealth Manager can reveal.
Citywire A-rated Rodrigs (pictured) will take over the group's £150 million R&M UK Equity Smaller Companies fund. The current manager, Dan Hanbury, who used to work with Rodrigs at Investec, will focus on running the fund house's UK Equity Income fund.
The pair will then work together to develop R&M UK Smaller Companies and UK Equity Unconstrained funds. Rodrigs joins on 14 March.
Ken Hsia replaces Rodrigs as manager of the Investec UK Smaller Companies fund with immediate effect. He has been the alternatve manager on the vehicle since 2000 and Investec said the investment process will remain unchanged.
Over three years to the end of December, the fund has returned 76.89% compared to a 66.35% rise in the benchmark FTSE Small Cap (ex-IT) index.
R&M chief executive James Barham said: 'We are delighted that Philip is joining R&M as he has built an excellent track record during his 8 years at Investec and we are, of course, very excited that we are able to reunite him with Dan.
'We have also continued to invest in our UK and global equity investment teams over the last few years and we are pleased that Philip is joining alongside the additional recruitment of George Ensor as a UK equity analyst from Smith and Williamson.'