Richard Peirson, co-lead manager of the Axa Framlington Managed Balanced fund, will retire in March 2017, the company has confirmed today.
When he retires Peirson will have worked in fund management for 45 years, with 23 at Axa IM.
As part of the succession planning process, Jamie Hooper was promoted to co-lead manager of £955m fund in November, and will take over management of the fund when Peirson retires.
At the time of his appointment, Hooper had been deputy on the AXA Framlington Managed Balanced fund for three years. Nick Hayes was also appointed to the team to manage the fixed income aspect of the portfolio.
Peirson joined Axa Framlington is 1994, having previously worked for Carr Sebag, Grieveson Grant and Kleinwort Benson.
Mark Beveridge, global head of Framlington Equities at AXA IM, thanked Peirson for his contribution to the UK equities desk and “unwavering dedication to his unit holders and other clients”.
“There are not many who can boast a twenty year track record consistently outperforming his peers.”
Beveridge says: “He is fully committed to remain in his active role until his retirement giving ample time for a smooth transition. Clients have been informed and we have been fully transparent in our succession planning process that has been well received by the market.”
Beveridge described Hooper as Peirson’s “natural successor” as he had a strong long-term track record and was closest to Peirson in the way he manages money.