Equity Income 

Manager of £640m Aberdeen Standard fund exits

Manager of £640m Aberdeen Standard fund exits

A shake-up of the UK equity team at Aberdeen Standard Investments has seen Karen McKellar retire from running the £640m UK Equity High Income fund, alongside a host of other changes.

The company said Ms McKellar had chosen to retire, having run the fund since 1995.

The fund was among the top 25 per cent of mandates in the IA UK Equity Income sector over the past year.

The shake-up has also led to the departure of Henry Flockhart, who ran the £270m UK Equity High Alpha fund. Frederik Nassauer will now manage this fund. 

Andrew Millington remains the head of UK equities with Lesley Duncan as deputy head.

Ms Duncan runs a range of ethical and sustainable funds.

Mr Millington will run the UK Equity Growth fund, a £221m mandate that had previously been run by Ian Pyle, who will switch to running the UK Equity High Income fund that Ms McKellar has chosen to retire from. 

Devan Kaloo, global head of equities at Aberdeen Standard Investments, said: "The integration has been an opportunity to invest in our people and the tools that we believe will help our managers deliver.

"We have also been able to provide significant continuity in terms of how mandates are managed."

david.thorpe@ft.com

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