Fund manager churn continues
|
|
Churn and changes are continuing in the race for talent in the funds management sector, according to new research released by Standard & Poor's (S&P).
The research house said today that 15 senior portfolio management professionals, representing almost 320 years of collective experience, had left their firms in the first quarter of this year.
S&P said these departures had affected $10 billion in funds under management.
Commenting on the research, contained in S&P’s inaugural quarterly report Musical Chairs: Fund Managers on the Move, S&P head of fund research Leanne Milton said the sudden loss of experienced portfolio managers had the potential to materially affect a company’s reputation, cause significant team instability and increase the likelihood of ratings actions.
AUTHOR
Mike Taylor
Recommended for you
Franklin Templeton has announced it will close its Australian Core Plus Bond Fund, having changed two fixed income funds in its Brandywine range last week.
Investment solution provider Channel Capital has appointed James Archer as its latest distribution director, joining from Pinnacle Investment Management.
Bennelong Funds Management has signed a memorandum of understanding with US private credit manager Monroe Capital to distribute its products in Australia.
Global equity manager Talaria Capital has appointed a Sydney-based sales director as it grows its distribution presence across Australia.
