Cazenove's Dean overhauls UK Dynamic

Cazenove's Julie Dean is bringing the UK Dynamic portfolio she inherited last month from Neil Pegrum into line with her large-cap biased UK Opportunities ahead of a merger of the funds.

Pegrum quit Cazenove for Soros Fund Management in the last week of April, handing his fund to Dean. That week redemptions caused the fund’s assets to drop from £123m to £80m. Dean says: “We acted swiftly to raise cash levels while seeking minimal share price disruption. The performance of the fund during the week was good. “We hope we have now seen the bulk of redemptions from the fund, and hope people will look at UK Opportunities’ performance and find it an attractive proposition.” The fund shared 63% of its holdings with the £31m UK Opportunities fund Dean already managed. UK...