A former fund manager at emerging market specialist First State and head of emerging market equities at Janus Henderson is to set up his own fund house.
Glen Finegan’s departure from Janus Henderson was announced in April, when he went on gardening leave.
He worked on five funds at the company and his exit was described as by “mutual agreement.”
Prior to joining Henderson he had spent 13 years at First State.
His new firm, Skerryvore Asset Management, named after Scotland’s largest lighthouse, is being launched in partnership with BennBridge and will focus on emerging market equities.
BennBridge acts as an outsourcer and provides services such as compliance and administration to asset managers, including Tellworth Investments, a fund management firm created by former Schroders Managers John Warren and Paul Marriage.
Mr Finegan said: “I chose BennBridge for its proven success in partnering with quality asset managers, as well as a clear alignment of interests.
"I am committed to continuing to invest according to my established philosophy and process and am pleased this fits so well with the BennBridge business.”
Mr Finegan’s Global Emerging Markets Opportunities fund, which he officially managed until the start of October, has sharply underperformed over the past three years, losing 0.5 per cent, compared with a return of 15 per cent for the average fund in the IA Emerging Markets sector in the same time period.
Darius McDermott, managing director at Chelsea Financial Services, said: “Glen worked at First State for a long time, and that is a very positive point on any CV.
"But at Henderson the performance has been less good, and the size of the fund was quite small."
What do you think about the issues raised by this story? Email us on firstname.lastname@example.org to let us know.