Waverton Institutional Global Equity Team departs

It has been announced that the Waverton Institutional Global Equity Team will be leaving Waverton. Peter Rutter, William Kenney and James Clarke will be moving to Royal London Asset Management at the end of the month.

The departing team will continue to have the sub-advisory agreement on the Global Core Equity Fund which is part of Waverton’s Managed Portfolio Service. The existing Waverton Global Equity Fund which was managed by the team will be run as part of the core Waverton equity approach using Waverton’s regional research process and equity specialists.

The team were part of a standalone institutional global equity proposition at Waverton, utilising their own investment process and strategy, independent of the core business at Waverton. As such their departure will have no impact on any other strategies managed by Waverton.

The team joined Waverton five years ago from Spencer House Capital Management and Ironbridge Capital Management. Waverton’s management at the time saw the decision to bring them in as an opportunistic way to build a standalone institutional global equity proposition, separate of the core business.  However, following a rationalisation of the business by the CEO, Andrew Fleming, who joined Waverton in July 2015, it was agreed this was a non-core part of Waverton and the team’s departure is amicable and by mutual agreement.

Waverton wishes them well in their new home whilst it continues to focus on its core private client, charity and specialist fund business.