RSMR to review funds after manager moves

RSMR puts funds under microscope amid manager changes

RSMR to review funds after manager moves
1 minute

Investec UK Smaller Companies, Threadneedle American Select and Threadneedle UK Mid 250 have all changed their managers, while Invesco Perpetual UK Smaller Companies Equity saw Richard Smith retire.

Threadneedle handed James Thorne and Matt Evans the £146m UK Mid 250 portfolio in December 2013, while Cormac Weldon's exit for Artemis saw Diane Sobin picking up the £2.3bn American Select Fund in January.

The £572m Investec UK Smaller Companies Fund has taken over by Ken Hsia, following Philip Rodrigs' recent departure for River & Mercantile.

RSMR said after kicking the tyres of Invesco Perpetual UK Strategic Income, it has been added to the list of funds rated by the group.

"This fund has been run by Mark Barnett since inception in 2007 and has been as successful in performance terms as the larger Income and Higher Income funds Mark also runs. Following an in-depth analysis of the fund's objective and Mark's investment process, we are happy to award this offering our RSMR rating."

Elsewhere, Cazenove UK Smaller Companies has been taken off the rated funds list due to its closure to new investment.

RSMR group director Geoff Mills said: "We continually monitor all our rated funds to ensure they still qualify for the RSMR stamp of approval. Following the change in fund manager… we have placed these funds under review while we meet with the new teams to ascertain the impact of these changes and to examine how the funds' respective strategies could be affected."

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