Martin Currie hires North US manager to turnaround performance

Martin Currie Investment Management has hired a North American specialist manager, in a bid to turnaround performance of its flagship fund which has slumped to the bottom quartile of the IMA North America sector.

The group has appointed Penny Kyle, from the Kuwait Investment Office, as a co-manager alongside Tom Walker on the group's North American portfolios. Kyle was also formerly head of North American equities at Morley Fund Management in 2004. David Forsyth, the former co-manager with Walker, has been moved to the group's equity income team as a senior analyst. Kyle will be tasked with helping turn around the performance of the £299m Martin Currie North American trust, which is ranked 78 out of 83 in its sector over three years. The fund has returned 30.3%, compared to the 45.9% peer ...