Euan McNeil (pictured) has left Aegon Asset Management following a fund review that led to the change of managers across four of its funds.
Beginning 1 December, McNeil has been replaced on the Aegon Investment Grade Bond fund, Investment Grade Global Bond fund, Ethical Corporate Bond fund, and Ethical Cautious Managed fund.
Alex Pelteshki will replace McNeil in managing the investment grade bond fund alongside Rory Sandilands. The duo will also join the Investment Grade Global Bond fund, along with Kenneth Ward continuing on with the fund. Ward will also now manage the Ethical Corporate Bond fund with Iain Buckle, and Buckle will join the Ethical Cautious Managed fund with Audrey Ryan.
See also: Neil Goddin returns to Aegon AM as head of equities and multi-asset
Aegon stated: “As a result of our review, fixed income investment manager Euan McNeil has decided to leave the business to pursue other opportunities. We thank him for his service at Aegon Asset Management and wish him all the best for the future.”
In the past three years, the Investment Grade Bond fund has lost 5.28%, but has remained above the sector average loss of 6.33%, according to FE Fundinfo. However, the fund has experienced outflows of 51.9% in the past three years.
The Ethical Corporate Bond fund has lost 32.2% in flows, and has had a negative return of 7.79%, slightly worse than the sector average 6.33% loss. Similarly, the Ethical Cautious fund has felt outflows of 46.2%, with a negative return of 3.7%. According to FE Fundinfo, the sector on average gained 3.8% in three years.
