F&C to take on Eastern European fund from Nevsky

F&C’s Gareth Morgan is to take on the Dublin-based Eastern European fund from Nevsky Capital which has resigned from the mandate.

The $466m fund has been run by Nevsky Capital but the company has resigned from the Ucits fund and will hand over control on April 30.

F&C’s Eastern European team, led by Mr Morgan, will manage the fund. It already runs a dedicated Russia fund and Global Emerging Market strategies.

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The company said the investment objectives would remain unchanged and said it would introduce “a highly competitive” institutional share class for existing and new clients with no performance fee.

“Our focus on quality, rather than value alone, has enabled us to deliver strong performance over various market cycles,” Mr Morgan said.

“Through our process and an ability to draw on the wider research capabilities within F&C, including the European Equity, Emerging Market Debt and Governance & Sustainable Investments (GSI) teams, we believe we are well placed to continue delivering for stakeholders.”

The members of Nevsky Capital are the senior investment professionals who previously made up the emerging markets team of Thames River Capital.