Burnett takes over Neptune European Income

Rob Burnett, Neptune's head of European equities, has taken over the management of the European Income fund, supported by his team, following the departure of Karim Ladha.

Ladha joined Neptune in August 2008 as an investment analyst, and worked with Burnett and Douglas Turnbull researching the financials sector. He was an assistant manager on Burnett's £1bn European Opportunities fund, and the European Max Alpha fund. The European Income fund launched at the end of 2009 but failed to attract assets, and today has just £1m under management. Over the year to 7 February it has returned 1.9%, ranking it at the bottom of the Europe ex UK sector, which has returned an average 13.8%.