Royal London's Martin Cholwill to retire after 37 years

Richard Marwood to become lead manager

Manager of Royal London Asset Management’s £1.7bn UK Equity Income fund Martin Cholwill will retire later in the year after almost four decades of managing portfolios.

Richard Marwood, who has been deputy manager on the fund since 2016, will assume responsibility as co-manager with Cholwill until his retirement, then become lead manager. Home and dry: UK equities safe from dividend cuts as Lockdown 3.0 continues Cholwill joined RLAM in 2005, having previously managed a UK equity mandate at AXA Investment Managers, where he worked for 21 years. Since he took to the helm of Royal London UK Equity Income in March 2005, it has returned 221.4% compared to its FTSE All-Share benchmark and average peer's respective gains of 158.3% and 139.8%, according to ...