Departure leads to hold on fund
Research house InvestorSource has slapped a hold recommendation on Mercantile Mutual's Small Cap Australian Share Funds following the recent departure of Greg Dearden.
Research house InvestorSource has slapped a hold recommendation on Mercantile Mutual's Small Cap Australian Share Funds following the recent departure of Greg Dearden.
Dearden was poached by BNP Investment Management the small companies analyst in a bid to boost the standing of its equities team. He will work alongside BNP Aus-tralian equities boss Brian Ingham but will no longer focus solely on small companies.
Dearden was only recently appointed head of small caps at Mercantile Mutual when David Paradice resigned to start up his own boutique manager, Paradice Investment Management.
InvestorSource managing director Andrew Crawford says his departure so close to that of Paradice represents a personnel turnover of the entire small cap team in just a few months. The hold recommendation is to remain until Mercantile Mutual puts in place a new team with suitable experience.
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