Property manager Boag quits Standard Life Investments

Property manager Boag quits Standard Life Investments

Property manager Robert Boag has quit Standard Life Investments, handing over management of the UK Commercial Property Trust to Will Fulton.

Mr Boag had managed the property-focused investment trust since 2009, when it was run by Ignis Asset Management and stayed on when Ignis was bought by Standard Life Investments.

But he has now left the firm and the board of the trust has accepted SLI’s proposal that Mr Fulton, another member of the firm’s property team, should replace him.

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Analysts at Numis Securities said Mr Boag’s departure was “not a major surprise” following SLI’s takeover of Ignis.

But Numis said: “We are keen to understand whether this will result in any significant change in management style of the fund or whether this paves the way to merge the two listed trusts managed by Standard Life.”

The other trust, the Standard Life Investments Property Investment Trust, is managed by Jason Baggeley and has performed strongly in recent years. SLI has put a lot of resources towards raising money for the trust in the past year.