Equities  

RLAM’s UK manager steps back

RLAM’s UK manager steps back

Royal London Asset Management’s Bradley Mitchell is no longer running the group’s £511m UK Growth and £23m UK Ethical Equity funds, Investment Adviser understands.

Mr Mitchell had been in charge of the UK Growth fund for almost a decade, and had run the Ethical Equity fund since 2011, but is understood to no longer have responsibility for either portfolio. The FCA Register lists him as “inactive” as of September 16, meaning he no longer has investment responsibilities.

New managers for the portfolios have yet to be revealed.

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RLAM said in a statement: “We are not in the position to comment, however we place our clients’ interests first and always ensure that we are managing the money that they have entrusted us with in a suitable manner.”

Over the past three years, the UK Growth fund has returned 22.5 per cent compared with an Investment Association UK All Companies sector average of 31.5 per cent, according to FE Analytics.

The Ethical Equity fund has performed better, returning 40 per cent over the three years to 24 September versus the same sector average.

Mr Mitchell joined RLAM in February 2004, having spent 17 years at Morley Fund Management – now part of Aviva Investors – and its predecessor firm Commercial Union.

There he managed portfolios including smaller company funds, mainstream unit trusts and specialist non-All Share portfolios.