The group’s equity focus will now be pan-European, leaving the head of equities role defunct.
The announcement comes a week after Jane Coffey, head of equities, left the group after 11 years. Company stalwart Ivon Pether has taken charge of Coffey’s UK equity fund. Equity managers will now report to CIO Robert Talbut.
The Japanese Growth and the Far East funds were both switched to passive management in January ousting managers Jonathan McClure and Edward Chan. The group stated that lack of resources on the ground in the region made it difficult to compete with other fund managers.
A spokesperson said that the group is still committed to active management and that there are no plans to switch to passive management on any other funds.
