Downing launches unconstrained UK equity fund for Rosemary Banyard

'A real coup'

Downing Fund Managers has hired ex-Schroders stockpicker Rosemary Banyard to lead a newly launched unconstrained UK equity fund.

Banyard will head up the Downing Unique Opportunities fund, a 'relatively concentrated' portfolio of UK companies across the market-cap spectrum. The firm said the offering would focus on small- and mid-cap stocks that can achieve above-average returns on capital based on a sustainable competitive advantage. The fund will hold between 25 and 40 positions and will charge an annual management charge of 0.75%, with the ongoing charges figurecapped at 1%. Sanford DeLand hires from WH Ireland for chief analyst role Judith MacKenzie, partner and head of Downing Fund Managers, said the ap...