Mark Wharrier exits Majedie after run of underperformance
He will be replaced as manager of the £100m UK Income fund by Majedie founder Chris Field
Majedie UK Income fund manager Mark Wharrier has left the firm after a run of underperformance and will be replaced by Chris Field.
Wharrier (pictured) joined Majedie in May 2018, just seven months after he was hired by Troy Asset Management as assistant manager on the Trojan Income fund alongside Francis Brooke and Hugo Ure. Prior to joining Troy, he co-managed the Blackrock UK Income fund and Income and Growth investment trust.
Since Wharrier took over management on 5 November 2018, the Majedie UK Income fund has lost 1.7%, compared to its benchmark index, the FTSE All-Share, which gained 11%, while the IA UK Equity Income sector returned 12% over the same period, according to FE Fundinfo.
ASI announces sweeping fee cuts across 11 funds
By Harriet Habergham, 4 May 21
Five sterling government bond funds to see AMC slashed, while the £1bn Emerging Markets Equity and Asia Pacific Equity funds will also see charges cut
Aberdeen Standard Investments will slash annual management charges across 11 of its funds from 1 June.
In a letter to investors, ASI said it was planning fee cuts across a number of its sterling government bond funds, as well as some of its larger funds, including the £1.1bn Emerging Markets Equity and £1.1bn Asia Pacific Equity funds “following a review of the funds’ pricing”.
Former Woodford IM sales boss lands new gig at HanETF
By Harriet Habergham, 4 May 21
The ETF provider has made a number of new appointments as it expands its active ETF offering
Woodford Investment Management’s former head of sales Simon Dale has re-emerged at HanETF which is looking to expand its active ETF offering.
Dale has been appointed head of sales at the independent ETP provider and will be responsible for implementing the company sales strategy across Europe, while also focusing on growing its active ETF offering. He will also join HanETF’s executive team.
Only 1.8% of funds achieved top quartile returns over the last three years
‘Astonishing’ 103 out of 1,085 funds in BMO Gam’s Fund Watch survey managed to deliver above median returns over the period
The number of fund consistently achieving top quartile returns over three years has plunged below the historical average in Q1 2021 as stylistic skews toward value and growth and bifurcated markets have driven inconsistent performance.
BMO Gam’s Fund Watch survey found that just 1.8% of the 1,085 funds analysed from the 12 main Investment Association sectors consistently achieved top quartile performance over the last three 12-month periods, compared to 3.2% in the previous quarter and below the historic average of between 2% and 4%.