Old Mutual vet Klahr to retire by end of 2008

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

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 14 years in charge. Michael Gifford, current deputy on the 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 Equity Income fund. Gifford previously worked at Canada Life and Isis/F&C. Extra Income aims to provide a significantly higher income than the FTSE 100 through investment in equities an...