SWIP Names its Head of UK Equity and Head of International Equities
SWIP has appointed Peter Cockburn as the firm’s Head of UK Equities, a role which he has held on a temporary basis since Robert Waugh’s departure in September 2009. Cockburn has responsibility for the 13-strong team - which manages just over £24 billion in assets – and also SWIP UK Advantage, SWIP UK Opportunities and Scottish Widows UK Select Growth. The announcement brings clarity on the team’s long-term leadership and we think Cockburn is the right man for the job. In our opinion Cockburn is a talented manager and his funds have performed well since he took charge; SWIP UK Opportunities and Scottish Widows UK Select Growth are rated Standard by Morningstar analysts but only due to the uncertainty at SWIP. The firm has also restructured its global equity business and created the new of role of Head of International Equities to which it has appointed Mike McNaught-Davis. SWIP is combining global developed and global emerging markets equities to create an International Equities team which manages £6.3 billion. McNaught-Davis has over 22 years’ experience and joined SWIP’s Global Developed Markets team in March 2008 where he was responsible for EAFE mandates and covering the global pharmaceutical sector. Before joining SWIP he managed Global and Japanese stocks at Martin Currie and also headed the Japanese equity desk at F&C Asset Management.
SWIP Loses More Staff to Martin Currie
Martin Currie has taken further steps to bolster its emerging markets capability by hiring four more members of SWIP’s global emerging markets desk in addition to the appointments of Kim Catechis and Alastair Reynolds; the pair will lead the team when they start at the end of 2010. Andres Ness, Jeff Casson, Divya Mathur and Mohammed Zaidi were all investment directors at SWIP. Ness ran GEM sustainability portfolios and covered financials while Casson was the lead manager of the Latin American strategy and supported Reynolds on the GEM small-cap strategy; Casson also covered the telecom and consumer sectors. Mathur managed the core GEM mandates and researched energy stocks while Zaidi managed the GEM Shariah mandates and co-managed GEM balanced mandates; he also covers industrials and materials stocks. The last four appointments complete Martin Currie’s emerging markets team and leaves SWIP’s capabilities decimated. SWIP has subsequently combined the remaining global emerging market team with their global developed equity team.
Guy de Blonay Joins Phillip Gibbs at Jupiter Financial Opportunities
From 1 June 2010 Guy de Blonay will co-manage Jupiter’s Financial Opportunities fund alongside Phillip Gibbs. Guy de Blonay has 13 years’ investment experience and joined Jupiter in January 2010 from Henderson New Star where he managed the New Star Global Financials fund; he previously worked at Jupiter before joining New Star. Gibbs has produced an outstanding record while in charge of the Jupiter Financial Opportunities fund and the addition of de Blonay should enhance the firm’s capability in the sector which can also benefit other managers at the firm. Guy de Blonay had been working at Jupiter in an advisory role since he joined at the beginning of 2010.
Liontrust Chief Executive Steps Down
Nigel Legge has quit his role as chief executive of Liontrust – the firm he co-founded in 1994 - but will remain at the firm as a consultant until 6 August 2010. The firm has endured a difficult time recently particularly since its star managers Jeremy Laing and William Pattison left the firm in January 2009. The firm’s head of retail – John Ions – will join the board and take on the role with immediate effect while non-executive chairman Adrian Collins will become executive chairman.
Morningstar Qualitative Ratings and Reports Issued
This Week Morningstar issued new qualitative ratings and reports on a number of funds available to UK investors this week, including CIS Sustainable Leaders and Investec Emerging Market Debt. Click here to see the full list.
