PSigma changes name of Abate's American Growth fund

PSigma has changed the name of its bottom quartile £10m American Growth fund to the PSigma American fund.

The fund, headed up by Centre Asset Management's James Abate, has delivered lacklustre performance, while inflows have also disappointed.

Over three years the fund is 67 out of 82 in the IMA North America sector, returning 13% compared to the sector average of 20.4%, according to Morningstar.

The manager is also set to manage PSigma's latest offering, a Global Equity fund slated for launch in June.

Abate ran Credit Suisse's huge Transatlantic fund in the 1990s, which was a top performer under his stewardship.