Tillit has decided to remove five funds following manager changes.
The decision to drop the funds was made by the firm's investment committee in a process triggered automatically after manager departures.
The following funds have been removed:
- AXA Framlington Biotech Fund after manager Linden Thomson’s move to Candriam
- JO Hambro UK Dynamic, after Alex Savvides moved to Jupiter to manage its UK Special Situations Fund
- Allianz Strategic Bond Fund, following the departure of Mike Riddell to Fidelity to run its Strategic Bond Fund
- Fidelity Global Property Fund, following its merger with Fidelity Enhanced Income Fund and the departure of Dirk Philippa
- Federated Hermes Global Emerging Markets Small and Mid Cap Equity, following concerns over the extent of the drop in assets under management since the end of 2023.
Sheridan Admans, head of fund selection at Tillit, says: “The past six months have seen notable changes among fund managers on the Tillit platform.
"There is no need to make a knee-jerk reaction. A named fund manager leaving a firm does not automatically mean that a fund will be removed from the Tillit Universe.
"However, it does lead to a meeting with the new managers to assess their experience and planned approach. We then review the fund and changes at our investment committee meetings before making a final decision.”
The committee also made decision on other funds which have seen changes in management.
It has decided to keep Ninety One's Global Total Return Credit, which has Darpan Harar now managing the fund, and the Schroder Recovery Fund following the departure of Kevin Murphy who was replaced by Nick Kirrage alongside Andrew Lyddon.
There are three funds still under evaluation by the committee which are Vietnam Opportunities trust, AXA Framlington Global Technology fund and Janus Henderson Strategic Bond fund.
tara.o'connor@ft.com
What's your view?
Have your say in the comments section below or email us: ftadviser.newsdesk@ft.com
