Update: Frikkee to join Smith & Williamson

Tineke Frikkee is to exit BNY Mellon and join Smith & Williamson Investment Management in July to run its UK Equity Income Trust.

Frikkee, manager of the Newton Higher Income fund until the end of December, enjoyed a spell as one of the most popular equity income fund managers. At Smith & Williamson, Frikkee will run the UK Equity Income Trust alongside Mark Swain. The trust has enjoyed a decent year, just beating peers in the IMA UK Equity Income space with a return of 26% compared to the sector average of 25.7%. However, it has yet to grow substantially, with just £9m in assets, and S&W will be hoping the big name hire can help the fund get some traction with advisers. The hire of Frikkee follows the dep...