Premier Miton has replaced the manager of its underperforming £103m Global Alpha Growth fund.
The fund was run by Premier Asset Management prior to that company merging with Miton in 2019 and Jake Robbins had run the fund since 2001.
But the fund has been underperforming. Over the past three years it has returned 17 per cent compared with 31 per cent for the average fund in the IA Global sector in the same time period.
The fund returned 16 per cent in the 2019 calendar year, compared with 21 per cent for the average fund in the sector in the same time period.
In a statement this morning (January 15) the company confirmed that Mr Robbins has left Premier Miton to “pursue other opportunities.”
His replacement as manager of the fund is Duncan Goodwin, who joins from Barings, where he was head of global resources and ran the Barings Global Resources fund and Barings Global Agriculture fund.
Mr Goodwin will also be deputy manager of the Premier Miton Global Optimum Income fund.
The company stated the investment objectives of the funds will not change.
Neil Birrell, chief investment officer at Premier Miton, said: “I am delighted Duncan Goodwin is joining us to reinvigorate our global equity funds.
"We believe the combination of his proven and broad global equity investment experience, covering global resources and global sustainable growth, means we can offer exciting global equity funds, based on truly sustainable investment criteria, with real potential for strong long term growth.”
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