London-based fund manager Attica has dumped Newton Investment Management (NIM) in favour of Societe Generale (SGAM) to oversee a portfolio for its multi-manager UK equity fund.
The replacement follows a recent overhaul in ownership and personnel at Newton.
Derrick Dunne, director of Attica, said: “We have been following SGAM as an alternative manager for our UK Fund. Our multi-manager process relies on swift and effective decision-making when needed.
He added: “[Our] qualitative and quantitative research illustrates that SGAM is complementary to our other incumbent managers, Liontrust and Royal London.”
Recent changes at NIM include the appointments of Helena Morrissey as CEO; Ed Britton as head of fixed income; Jeff Munroe as CIO; Colin Campbell as COO; and fund manager Stewart Cowley as head of Newton global bonds.
Commenting on the win Rufus Warner, director of SGAM observed: “Multi-manager structures are an area of increasing focus for the industry and we are happy to be playing a role in this development.”
By Madhu Kalia
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