Jeremy Charles, manager of the £1.3bn Scottish Widows UK Growth fund, is the latest fund manager to exit the firm following the restructure of its £54bn equity desk.
SWIP confirmed Charles is one of the 23 members of staff who have left the company, as moves to a quant-based 'enhanced passive' management style. In July 2012 he joined SWIP from Aviva Life, where he was a senior portfolio manager. The fund is one of the worst performers in the IMA UK All Companies sector, returning 20.5% over the three year to 10 August, compared to a 37.1% sector average, according to Morningstar. Charles has been replaced by Nick Millington, head of optimised alpha fund management within the quantitative investment group. "In April we announced the repositio...
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