F&C announces that it is to create a closer alignment between its investment trust and open-ended funds businesses as it continues to expand its presence among Independent Financial Advisers and discretionary wealth managers.
As a result Charlie Porter has taken executive responsibility for investment trusts alongside the group's retail and wholesale open-ended funds business.
Under the new structure Mike Woodward, Head of Investment Trusts, will report to Charlie Porter and continue to be responsible for F&C's highly regarded investment trust client servicing and company secretarial functions. The group currently manages 14 investment trusts and closed-ended investment companies and also provides secretarial and administration services to a number of externally managed trusts.
Additionally, Ed Morse has been appointed to the new position of Head of Investment Trust Business Development. Ed is one of the F&C Group's most senior sales directors, having joined Thames River in 2001 to build and lead the sales team. Ed has over 20 years experience of marketing a wide range of investment products and has longstanding relationships in the discretionary fund management market. His experience with investment trusts includes the launch and development of Thames River Hedge+, a London Stock Exchange listed closed-end investment company. Ed joined Thames River from Credit Suisse Asset Management where he was Head of European Retail, prior to which he was at Robert Fleming for eleven years, latterly as Managing Director of part of their Funds business.
Charlie Porter, head of F&C's funds business, said: "F&C has a long and proud heritage in the investment trust market which spans almost one and half centuries. But importantly investment trusts are and will continue to be a key part of F&C's future. We are ambitious for F&C's investment trust business and will be investing in this franchise through strengthened distribution and product innovation. We have a wide range of investment capabilities across the Group, with strong track records in multiple asset classes. Over time we intend to develop new investment trust products that will play to our strengths and respond to the ever-changing needs of our clients. Furthermore the distribution landscape for UK financial services will see significant changes over the coming years with the implementation of RDR and over time we expect to see increased opportunities for investment trusts as a result."
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