Majedie poaches River and Mercantile UK equity manager

Equity boutique Majedie Asset Management has hired Richard Staveley from River and Mercantile as a manager on its flagship UK Equity fund.

Staveley will focus on small- and mid-cap stocks on the fund and associated segregated mandates together with existing manager Adam Parker. Smaller cap stocks make up around £600m of the £6bn invested in the fund and segregated mandates, while the larger equity exposure is co-managed by James de Uphaugh, Chris Field and Matthew Smith. Over three years to 19 July the fund has returned 59.3%, according to Morningstar, versus the IMA UK All Companies sector average of 47.2%. Staveley joined River and Mercantile in 2006, where he ran the UK Equity Smaller Companies and UK Equity Income...