Hunter Hall 'on hold' following CEO departure
Standard & Poor's Fund Services has placed six Hunter Hall equities funds 'on hold' following the resignation of chief executive officer and portfolio manager David Buckland, effective 1 June.
Buckland is the second senior team member to depart in six months following portfolio manager and deputy chief investment officer Jack Lowenstein's resignation in November 2011, according to S&P.
"We believe that the latest departure represents further significant organisational disruption at Hunter Hall," S&P stated.
Michael Walsh will take over as interim chief executive from that date until a permanent replacement is found, according to S&P.
Hunter Hall has also announced the appointment of two new portfolio managers, the returning Jonathan Rabinovitz (commencing 4 June) and Simon Bridger (commencing 1 June).
"We consider it prudent to place the funds 'on hold' to enable us to fully assess the impact of these changes on Hunter Hall's organisation and culture," said S&P Fund Services analyst Tom Mills.
"We are currently in the process of conducting our global equities sector review and expect to publish our findings, including those on the Hunter Hall funds, in June."
The affected funds are:
- Hunter Hall Australian Value Trust
- Hunter Hall Asian Value Trust
- Hunter Hall Global Ethical Trust
- Hunter Hall Global Deep Green Trust,
- Hunter Hall Global Ethical Trust Hedged, and
- Hunter Hall Value Growth Trust.
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