His exit was first made public mid-June and Rice left in July around the time the boutique asset manager was acquired by Schroders.
Rice had worked at Cazenove for more than a decade and held roles in the investment management industry for 22 years.
At the time his departure was revealed he said: “I feel I need a break, and the transaction [to Schroders] has crystallised those thoughts. It would be unfair on all concerned not to be open about this.”
Cazenove manager Steve Cordell stepped up to take the lead on the Cazenove European Fund and so far performance has not faltered.
Despite the redemptions of £144.9m in the past three months, according to data from FE Analytics, the performance effect on size has added £99.9m in assets, which means the net reduction of assets over the period was approximately £45m.
The fund has maintained first quartile performance over the past three months, returning 4.29% compared with 2.29% from the sector average.
It is also first quartile over six and 12 months, while it is third quartile over three year and second over five. The graph below shows its one-year performance versus the sector.
