River and Mercantile has relaunched its £41m UK Equity Unconstrained fund, with the vehicle’s name being changed to UK Dynamic Equity and Philip Rodrigs taking over as lead manager.
Mr Rodrigs, who managed the Investec UK Alpha fund for two years before joining River and Mercantile, takes over to allow former lead manager Dan Hanbury to focus on the company’s £255m UK Equity Income vehicle.
The UK Dynamic Equity fund will now be able to use derivatives, while its annual management charge has been reduced by 25 basis points, taking the fund’s clean share class down to 0.75 per cent.
Mark Thomas, River and Mercantile’s managing director for wholesale distribution, said: “Dan and Philip strongly believe in the continued opportunity to generate attractive returns for investors from across the whole of the UK stock market, and have demonstrated this consistently with their past and present strategies.”
According to FE Analytics the fund has returned 32.6 per cent over three years, compared to 24.5 per cent from its peer group, the Investment Association UK All Companies sector.