Hargreave hands Marlborough UK Leading Companies to Hallett

Top performing small-cap manager Giles Hargreave has stepped down from his co-manager role on the £90m Marlborough UK Leading Companies, handing the mandate to Richard Hallett.

Hallett (pictured), who has co-managed the fund since August 2005, will take over sole responsibility for the portfolio. A spokesperson for Marlborough said the reshuffle has been made in light of strong performance from Hallett, who has been managing the fund on a day-to-day basis for some time. The fund is a top quartile performer in the IMA UK All Companies sector over five years, returning 82.6%, ahead of the sector average return of 51.4%, according to Morningstar. "Formalising Hallett's role as manager rather than co-manager is a logical move and a recognition of his outstand...