Former CRUX fund manager Richard Penny has joined boutique manager Oberon Investments from Lansdowne Partners.
He brings with him CRUX’s UK equity fund range, including the £28.3m TM CRUX UK Special Situations fund, £21.1m TM CRUX UK Core fund and £6.7m TM CRUX UK Smaller Companies fund.
The strategies will then be rebranded the TM Oberon UK Core, TM Oberon UK Special Situations, and TM Oberon UK Smaller Companies funds on 13 December.
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Lansdowne Partners gained control of the funds following its acquisition of CRUX in 2023.
Simon McGivern, CEO of Oberon Investments, said: “With a proven track record, Richard Penny is one of the UK’s best known fund managers.
“This transfer deal brings in a star fund manager who will no doubt be a very central figure in our young ambitious business. We are delighted that Richard has chosen Oberon for the next step in his career.”
Penny joined CRUX from Legal & General Investment Management in 2018. He spent 15 years at LGIM, managing the L&G UK Alpha Trust and L&G Special Situations Trust.
Penny’s supporting investment team will also move to Oberon.
