Old Mutual's Klahr to retire

Old Mutual equity income veteran Leonard Klahr will retire at the end of the year. Klahr has heade...

Old Mutual equity income veteran Leonard Klahr will retire at the end of the year. Klahr has headed the £40m Extra Income fund since launch in October 1994 and will retire in December after fourteen years in charge. The move follows plans to make small- and mid-cap expert Ashton Bradbury CIO at the same time, handing his UK Select Mid Cap fund to second-in-command Richard Watts. Michael Gifford, current deputy manager of the Extra Income fund, will become joint manager at the end of the month and take over as lead when Klahr leaves. Gifford is currently lead on the £47m Old Mutual Eq...