Royal London Asset Management (RLAM) has hired three managers from Waverton, as well as taking on their current fund, as it enters the global equity space.
The fund house, which currently has a greater focus on fixed income than stocks, has recruited Waverton managers Peter Rutter, James Clarke and William Kenney to form a global equity team, subject to regulatory approval.
Mr Rutter, who served as head of global equities at Waverton, will take up the same role at RLAM. He will report to chief investment officer Piers Hillier, while his two colleagues will serve as senior fund managers.
As part of the transfer, financial terms of which were not disclosed, the trio will continue to run the £95m Waverton Global Core Equity fund as well as a mandate for Australia-based Ironbark Asset Management.
RLAM said it plans to offer its own global equities funds in due course.
Mr Hillier outlined: "We boosted our UK equity capability last year, through the hires of Richard Marwood and Henry Lowson and look forward to meeting clients’ demand for global equity products this year.”
RLAM is also in the midst of overhauling its European equity range, two managers departing last year amid a broader review of the offering.
Head of sustainable investments Mike Fox has assumed the responsibilities of both managers until replacements are found.
