Neil Wilkinson, manager of Royal London Asset Management’s £266m European Opportunities fund, has left the firm prompting the business to begin an external manager search.
RLAM said Mike Fox will take charge on an interim basis as the business continues its review of its active management capabilities.
An RLAM spokesperson said: “RLAM is reviewing its European equities capabilities. [We] are fully committed to active European equities and an external search is underway for Neil’s replacement. Mike Fox will take over management of Neil’s fund on an interim basis with immediate effect.”
Alongside the Opportunities fund, RLAM runs the £600m European Growth strategy – which Mr Wilkinson managed until 2014 and is now run by Andrea Williams – and the £247m European Growth Trust managed by Simon Rubingh.
The European Opportunities fund has struggled in recent times, and returned 24 per cent over three years behind the IA Europe ex-UK sector average of 29 per cent and also underperformed over a five-year timeframe, according to FE Analytics.
