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Premier replaces manager after mediocre performance

Premier replaces manager after mediocre performance

Premier Asset Management has replaced the manager on its £119m UK Growth fund, following a period of relatively weak performance.

The Premier UK Growth fund was among the bottom 25 per cent of funds in the sector in 2016, returning 5 per cent compared with 10 per cent for the average fund in the IA UK All Companies sector in the same time period.

The fund is also in the bottom quartile in performance terms over the past six months, according to data from FE Trustnet.

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The fund was run by Chris White, who will continue to manage the company’s UK income mandates.

He will be replaced on the growth fund by Jon Hudson and Benji Dawes.

Mr Hudson joined Premier in 2007 and has been an analyst on the UK desk since then.

Mr Dawes has been an analyst at the firm since joining in 2014.  

Neil Birrell, chief investment officer at Premier Asset Management, said: “We are delighted to appoint Jon Hudson and Benji Dawes as co-fund managers of the Premier UK Growth Fund.

"Jon and Benji have proven their capability to manage a high conviction UK growth portfolio and the change also allows Chris White to focus on managing Premier’s UK equity income funds and his role as head of UK equities.”