Nick Marshall has left Smith & Williamson Investment Management after the firm overhauled its portfolio strategy recently.
Marshall had been a co-manager on the Smith & Williamson MM Endurance Balanced fund, but has now left the firm with immediate effect. Head of multi-manager James Burns remains to manage the fund, continuing as sole manager of the portfolio.
The firm plans to have an increased focus on using close-ended assets, such as exchange-traded funds and investment trusts, in its multi-manager and model portfolio range, and the group said it will hire an analyst to bolster the team working on open-ended funds.
Funds business head Ed Rosengarten (pictured) described managing close-ended funds as an area of Burns' expertise.
He said: "We have enjoyed great success with our Managed Portfolio Service offering, but feel we need more resource at analyst level rather than fund manager level to cover OEIC sector research and will therefore be recruiting an analyst.
"We are grateful to Nick for his contribution and wish him well in the future.”
