Pignatelli joined S&W in 2008 having previously worked as head of European equities at Barings and then Schroders where he was also CIO. He intends now to persue interests outside the investment management industry.
Pignatelli is to continue to manage the Smith & Williamson European portfolio until Christmas and in the meantime the group is looking to solidfy its succession plans for the £37m fund.
The S&W European Growth Trust is top quartile over the 12 months to 23 July based on returns of 47.53%. Over five years to the same end date the portfolio is second quartile with returns of 35.03% versus the Europe ex UK peer group average of 32.80%.
Currently the fund has more than 35% exposure to financials, with Germany and France its largest geographic positions with c20% allocation to each.
While announcing Pignatelli’s imminent departure, Smith & Williamson also noted Philip Lawlor is returning to group this Autumn as group strategist.
