Martin Currie to convert European fund as manager exits

Martin Currie is planning to convert its European fund into an income mandate as co-manager Eric Woehrling departs the firm, Investment Week understands.

The group wants to convert the £17m portfolio into a European income fund, subject to regulator and shareholder approval.

Woehrling's co-manager Palaniappan Chidambaram will oversee the fund during its transition, the group said.

Woehrling joined Martin Currie in 2000 to design the group’s European mid-cap products, including the Pan‐European Opportunities fund. He is also co-manager of the £18m Martin Currie GF Pan European Alpha, and runs several European segregated mandates.

He began his career at Stewart Ivory in 1997, working on the UK and emerging market desks before moving onto the European team, running small-cap products.

Over the three years to 16 September, the European fund has fallen 4.6% against an IMA Europe ex UK sector average return of 3.1%, ranking it 48th out of 97 in the peer group.