Darius McDermott, managing director, Chelsea Financial Services:
“Global Basics was built and launched by Graham French with a certain investment approach in mind and, while that doesn’t mean a fund can’t change direction, I think this move changes the game for investors who have been in the fund for some time. I would be surprised if this is the last we see of him.”
The managers: where are they now?
Richard Buxton: Moved from Schroders to Old Mutual Global Investors as head of UK equities and fund manager.
Neil Woodford: Plans to leave Invesco Perpetual in April 2014 to launch a new business, with further details yet to be confirmed.
Anthony Bolton: To retire from fund management in April 2014. He will remain as an adviser to Fidelity.
Sanjeev Shah: Stepping back from fund management and the running of the Fidelity Special Situations fund at the end of 2013 to take on a role within Fidelity’s Portfolio Manager Academy.
Philip Gibbs: Handed over the Jupiter Absolute Return fund, but will run the Jupiter Second Split investment trust until his retirement in October 2014.
Graham French: Handed the management of the M&G Global Basics fund to his deputy Randeep Somel ahead of his retirement in May 2014.
Tineke Frikkee: Moved from Newton to Smith & Williamson in July 2013 as manager of the UK Equity Income Trust.
Virginie Maisonneuve: Currently head of global and international equities at Schroders, but leaving the company at the end of 2013 for Pimco.
