Deutsche loses tech fund manager to hedge fund

Deutsche Asset Management has withdrawn the launch of its New Economy fund because manager Clare Fly...

Deutsche Asset Management has withdrawn the launch of its New Economy fund because manager Clare Flynn has left to run a hedge fund. M&G has also lost a manager to a hedge fund this week, as Andrew Gibbs, manager of M&G's European Smaller Companies is to depart to start his own fund. The two projects are not thought to be connected. Deutsche New Economy was scheduled to be launched on 9 October as the first sub-fund in its Oeic. Flynn's departure and the lack of a credible successor means the launch has been cancelled until an unspecified date in 2001. Investment Week understands Flynn...