Fund Times: September 13 - 17

Lee departs Henderson; Polar Capital acquires HIM Capital; Lazard to launch developing markets fund; Schroder bolsters global equity team; Jupiter appoints deputy at global fund.

Chetan Modi | 17-09-10 | E-mail Article

Lee departs Henderson
Frankie Lee, head of the Asian Properties equities team at Henderson, has left the firm; Lee directly managed the Asian portion of the Henderson HF Asia Pacific Property Equities fund. Patrick Sumner is moving to Singapore to assist the Asian-listed property team and recruit an appropriate replacement. Adrian Elwood, manager of the Henderson Horizon Pan European Property Equities fund, has also left the firm. Guy Barnard will assume responsibility for Mr Elwood’s day-to-day responsibilities; Barnard was employed as an analyst by Henderson in 2006 and was promoted to a fund manager in 2008.

Polar Capital acquires HIM Capital
Polar Capital has announced that it has acquired HIM Capital Holdings Limited and expects the deal to be completed by the end of September 2010. HIM Capital has around $230 million under management and was called Hiscox Investment Management before a management buyout from Hiscox plc at the end of 2007. The acquired firm has specialised in managing financial funds since 1993 and currently has four open ended, long only funds investing in the financial sector: Hiscox Insurance Portfolio Fund, Hiscox Far Eastern Financial Fund, Hiscox European Financial Fund and HIM Income Fund.

Lazard to launch developing markets fund
Lazard is launching their Developing Markets fund at the end of September 2010. The fund will be managed by Kevin O’Hare and Peter Gillespie and the pair will invest in companies they believe will post above-average levels of earnings growth but trade on reasonable valuations. O’Hare and Gillespie will build a portfolio of 60-90 stocks with a bias towards mid- and large-cap stocks; they have been running an institutional mandate with the same strategy since October 2008. The newly-launched offering will sit alongside the Lazard Emerging Markets fund which is run with a value bias by James Donald.

Jupiter appoints deputy at global fund
Jupiter has appointed Simon Somerville as the deputy fund manager of Jupiter Global Managed. He will work alongside John Chatfeild-Roberts who has been the lead manager since November 2001. The fund invests in a wide range of global markets and sectors but individual stocks are selected by Jupiter’s in-house managers; Chatfeild-Roberts manages the asset allocation of the fund.  

Schroder bolsters global equity team
Schroders has hired Sam Catalano and Giles Money to join their global equity team which is headed by Virginie Maisonneuve. Catalano joins as a portfolio manager and global sector specialist covering the materials sector. He previously worked at Macquarie where he led the European metals and mining equity research team and began his career as a mining engineer for MIM Holdings in Australia. Money also joins as a portfolio manager but is a climate change analyst. He will focus on the team’s global climate change strategy which feeds into the team’s Global Climate Change fund and also contributes to the broader global and international equity strategies.

Morningstar Qualitative Ratings and Reports Issued This Week
Morningstar issues new qualitative ratings and reports on funds available to UK investors each week. This week included Veritas Global Focus. Click here to see the full list.

Chetan Modi is a fund analyst with Morningstar UK. He would like to hear from you, but cannot give financial advice. You can contact the author via this feedback form.
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