Lodwick to take over global fund

 

When Lodwick takes over the International Growth portfolio, he says he will turn it into a “best ideas” fund of the groups existing, British, European, Japanese, American and emerging market retail funds.

He says: “We are very much at the planning stages at this point in time, but the fund is likely to become a concentrated version of all our global managers’ best ideas. I would do the asset allocation according to our macroeconomic house view at the time on all the different regions.”

At the end of February, investments into North America represented some 55.2% of the portfolio, Europe accounted for 22.7%, Asia 7.9%, Japan 5.7% and the UK 4.8%.
Framlington was without a chief investment officer for 12 months before Lodwicks appointment from Morgan Stanley Investment Management. This followed former CIO Neil Birrells resignation to set up his own business.

Nick Hodgson, sales and marketing director, says: “Some would argue that a boutique firm does not need a CIO, but we believe that provided they run money, as Jeremy will soon be, it is necessary. We have some talented young fund managers who need support and guidance, and CIOs need to organise and stimulate debate among managers.”

Before joining Framlington, Lodwick spent six years at Morgan Stanley, latterly as its CIO. At Morgan Stanley, he was responsible for managing a number of products. Before this, he was a portfolio manager at Morgan Grenfell Asset Management, where he ran European and US retail and institutional mandates.

Hargraves has run the European fund at Framlington since June 2001. Since this time to March 21, 2005 the fund has returned 3.3% and is ranked 20th out of 82 funds in the IMA Europe ex UK sector, where the average fund fell by 0.58%. Over the past 12 months, the fund is ranked 16th out of 98 funds after it returned 24%, versus the average return of 20.2%.