River and Mercantile to close three global funds as Stanic exits

River and Mercantile is to close three of its global equity funds as head of team Alex Stanic departs the group, Investment Week can reveal.

Stanic was head of the global equities team and managed the River and Mercantile Global Equity fund, as well as the Global Opportunities and Overseas Equity funds.  The fund range has suffered significant outflows in recent months: the Global Equity fund shed almost its entire asset base in December, from a starting level of £124m to just £500k by the end of the month, according to FE. The group will now close all three portfolios, following on from the closure of its Global High Income fund at the end of December, as it restructures the division. In its place R&M is launching a ne...