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.

Woodford's 'right hand investment man’ leaves after four months

Woodford's 'right hand investment man’ leaves after four months

Russell Harrop has become the first senior departure from Woodford Investment Management, leaving his position as an investment strategist for the star manager.

Harrop was one of Neil Woodford’s first hires on the investment side of his new venture, and one of the few not to have worked alongside him at Invesco Perpetual.

Woodford (pictured) instead recruited Harrop from Bank of America Merrill Lynch, where he had worked since 2008. There he produced a ‘best ideas’ portfolio of buy and sell global equity recommendations, claiming a 17% compound annual growth rate from his portfolio.

At Woodford Investment Management, Harrop focused on stock research and analysis; he described himself as ‘Neil Woodford’s right hand investment man as the business was rolled out’.

A spokesperson for the firm told Wealth Manager: ‘Russell joined Woodford Investment Management on a four-month contract to provide investment research and trade management support following the launch of the firm in May – a period of rapid growth and transition. The firm is now up and running and we would like to thank Russell for the invaluable support he gave us when we started.’

Earlier in his career Harrop was a Japanese equities specialist, managing such funds at Hill Samuel Asset Management and EN Asset Management.

Woodford’s senior investment team now comprises the former Invesco Perpetual triumvirate of Paul Lamacraft, Saku Saha and Stephen Lamacraft.

Citywire A-rated Woodford has enjoyed early success with his new fund, attracting strong flows and generating above-average returns in its first three months.

The CF Woodford Equity Income fund, which now has more than £2.5 billion of assets under management, has returned 3.1% since inception compared with a loss of 0.3% from its UK equity income peer group.

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 CEO tapes 2: the right way to pay fund managers

CEO tapes 2: the right way to pay fund managers

In second part of our latest CEO series, seven fund bosses lift the lid on how they pay managers.

Play Get out of low vol, warns 'godfather' of smart beta Rob Arnott

Get out of low vol, warns 'godfather' of smart beta Rob Arnott

Rising valuations are making the Research Affiliates founder nervous, so he's advising clients to rotate into value-orientated strategies.

Play CEO tapes 2: the active fund industry has 'over promised'

CEO tapes 2: the active fund industry has 'over promised'

Citywire invited a batch of fund bosses to share their views on the industry ahead of this week's crucial FCA report.

Read More
Your Business: Cover Star Club

Profile: Rathbones' fund boss on spotting emerging talent

1 Comment Profile: Rathbones' fund boss on spotting emerging talent

A great fund manager is really easy to spot, says Mike Webb, chief executive of Rathbones Unit Trust Management

Wealth Manager on Twitter