J O Hambro Capital Management’s (JOHCM) star UK equities manager John Wood is to retire later this year.
Mr Wood will end a 26-year career in asset management, having spent the past 12 years at JOHCM as lead manager of the £1.8bn JOHCM UK Opportunities fund.
Rachel Reutter and Michael Ulrich, who are currently co-managers on the fund, will take over lead management responsibilities when Mr Wood retires on September 30.
Ms Reutter became co-manager in 2012 and was joined by Mr Ulrich in 2015. JOHCM said there would be no change to the investment strategy on the fund.
Mr Wood joined JOHCM in 2005 from Newton Investment Management, having started at the latter as an analyst in 1995 and progressed to manage funds such as the Newton UK Opportunities and Newton UK Equity portfolios.
He became lead manager of the JOHCM UK Opportunities fund when it was launched in November 2005 - and has seen it become one of the firm's better known strategies.
The fund has delivered a total return of 178 per cent since its inception, compared to an average return of 114 per cent from peers in the IA UK All Companies sector, according to FE Analytics.