Neptune axes £1m UK Alpha fund

Neptune Investment Management has shut its £1m UK Alpha fund due to insufficient assets.

The fund's manager Nicola Muirhead left the firm over the summer, handing the portfolio to Alex Breese. "Neptune confirms that Nicola Muirhead, fund manager of the Neptune UK Alpha Fund, has decided to leave Neptune with immediate effect," said a spokesperson for the firm. The offering was one of four Neptune products in the UK All Companies sector - the £22m Neptune UK Equity fund, managed by Ted Alexander, the £17m Neptune UK Mid Cap fund, managed by Mark Martin, and the £9m Neptune UK Special Situations fund, managed by Breese. The performance of the UK Alpha product has been s...