Andrew Millington to head up ASI UK Equity fund as Kernohan departs
Has served as deputy manager of the fund
Aberdeen Standard Investments has appointed head of UK equities Andrew Millington as the manager of its £405m ASI UK Equity fund, following the departure of Louise Kernohan.
Millington, who was previously listed as the deputy manager of the fund, has served as ASI's head of UK equities since January 2018 but has worked at the firm since 2008, when he joined from Baillie Gifford as a UK equity portfolio manager.
He will be supported by investment director Samantha Brownlee and investment manager Georgina Cooper in the new role.
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Investment director Kernohan, who has managed the fund since January 2018, also headed up the £38.8m ASI UK Responsible Equity fund.
Management duties will be taken over by investment director Rebecca Maclean, who joined the firm as a responsible investment analyst in 2013.
Millington said: "I am delighted to be succeeding Louise as lead manager of the ASI UK Equity fund, a portfolio I have been closely involved with for the last two and a half years. To continue the team ethos which is at the heart our UK equity business and the fund, Samantha Brownlee and Georgina Cooper will support me in managing the fund.
"Samantha is currently an investment director in ASI's North American Equity team, and is returning to London. Having been with the organisation since 2008, Samantha brings significant investment experience with her alongside a successful track record managing portfolios and delivering outperformance.
"Georgina has been a member of the UK equity team for over five years. The UK equity team is one of the best resourced teams in the industry, with 16 investment professionals providing full research coverage of the FTSE 350 ex Investment Trusts on an ongoing basis."
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He added: "I would like to thank Louise for her hard work over the years and wish her all the best for future."
Over Kernohan's tenure, ASI UK Equity has returned 6.9% compared to its average peer and benchmark's respective losses of 10.1% and 11.8%, placing it in 28th place within the 239-strong sector, according to data from FE fundinfo.
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