Investments  

Kames replaces Piers Hillier on global equity funds

Kames Capital has promoted new co-managers to its Global Equity and Global Equity Income funds following the departure of Piers Hillier.

Neil Goddin has been promoted to co-manager on the £53.5m Kames Global Equity fund, joining Pauline McPherson, while Marcus Chandler is now co-manager of the £451.5m Kames Global Equity Income fund with Mark Peden.

Mr Hillier had been co-manager on both funds, as well as head of overseas equities at Kames since he joined in 2012, but he has left to join Royal London as chief investment officer.

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However, a spokesperson for Kames said the firm currently had no plans to appoint a new head of overseas equities to replace Mr Hillier.

Mr Goddin joined Kames in 2012 as head of equity investment screening & portfolio risk optimisation, while Mr Chandler is head of North American equities and currently manages the Kames American Equity fund.

Under the stewardship of Ms McPherson and Mr Hillier, the Kames Global Equity fund had turned around its historic underperformance and is in the top quartile of the IMA Global sector for one and three years.

Since its launch in September 2012, the Kames Global Equity Income fund has delivered a return of 25.6 per cent in sterling terms, compared to a 33.2 per cent rise in its benchmark index, the MSCI AC World index.