RLAM's Pether to take over Coffey's UK Equity fund

Royal London Asset Management's Ivor Pether will take over management of the £405m RLAM UK Equity fund following the departure of the firm's head of equities, Jane Coffey.

Pether (pictured), an RLAM veteran who has spent 30 years at the group managing a range of UK equity portfolios, will report to RLAM CIO Robert Talbut in the new role. The fund itself has struggled over the last year compared to peers. The £405m portfolio returned 9.2% in the last year versus the IMA UK All Companies sector average of 14.9%. Pether's appointment follows the exit of Coffey whose departure was confirmed today. Her future had been in the spotlight after the group's decision to overhaul the management of some of its equity funds. The restructure will see RLAM switch it...