Old Broad Street Research (OBSR) has suspended the A rating on Cazenove's UK Dynamic fund following news manager Neil Pegrum is leaving the firm.
The ratings agency says the suspension is effective immediately. Julie Dean will succeed Pegrum as lead manager of the long-only fund, and OBSR intends to meet with her as soon as possible. Dean is currently rated by OBSR for her management of the Dublin-domiciled Cazenove UK Equity fund. Pegrum is leaving Cazenove after a five-year tenure to join hedge fund manager Soros Fund Management. Paul Marriage, who is Pegrum's co-manager on Cazenove's long/short Absolute UK Dynamic and UK Dynamic Absolute Return, will become lead manager on both funds.
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