Premier Asset Management’s Paul Smith has resigned from his role as a named manager on three funds after for personal reasons after 14 years with the firm, Portfolio Adviser has learned.
Smith, who joined the firm in 2005, is stepping down as manager of Premier Defensive Growth fund and Premier UK Money Market fund and as co-manager of the Premier Corporate Bond Monthly Income fund.
A statement from Premier confirmed he has left his role. It added that Smith works with an “established team of investment managers” who will take over as managers of the funds.
Daniel Hughes and Robin Willis will become co-managers of the Premier Defensive Growth fund. The pair have been part of the fund’s investment team since 2015.
Chun Lee, existing co-manager of the Premier Corporate Bond Monthly Income Fund, will become sole manager. He has been part of the fund’s investment team since 2016.
Lee and Hoy Wan will be co-managers of the Premier UK Money Market Fund. Like Lee, Wan has been part of the investment team since 2016.
Premier Asset Management chief investment officer Neil Birrell said: “We understand and fully support Paul’s decision to step down from his roles at Premier. Paul joined Premier as a fund manager in 2005 and we are grateful for his contribution as a highly regarded and respected member of our investment team over many years. He leaves us with our very best wishes.
“Paul has built a strong investment team who have worked closely with him over the last few years and we are delighted to be able to appoint Daniel Hughes, Robin Willis, Chun Lee and Hoy Wan to take over the running of these funds, ensuring continuity of investment philosophy and process for the funds’ investors. We are confident they will do a great job for our investors in the future.”
