Smith & Williamson has taken its European Growth Trust in house, ousting New Star's Richard Lewis in...
Smith & Williamson has taken its European Growth Trust in house, ousting New Star's Richard Lewis in favour of ex-Barings and Schroders manager Mark Pignatelli. The firm outsourced the trust in 2005 and will bring the mandate back in house on 1 December. New Star's Lewis currently runs the fund alongside Annie Stradling but they have failed to bring it above third quartile. Over one, three and five-year timeframes, it is ranked no higher than 67th out of 100 funds in the Europe ex-UK peer group. In the past year, it has posted a loss of 41.3% compared to the sector average decline o...
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