Farley assumes control of second T Bailey cautious fund

Elliot Farley has been promoted to the role of lead manager of the T Bailey Cautious Managed fund, which from October 1, subject to unitholder approval, will be renamed Dynamic Cautious Managed.

Farley, who takes the fund over from Jason Britton, the group’s chief investment officer, joined in 2000 as an analyst and has been assistant manager on the Cautious Managed fund since January last year.

Last month he was also named the lead manager of the £10m T Bailey Defensive Cautious Managed fund. (article continues below)

While the Defensive Cautious Managed fund has a typical 25% exposure to equities, the Dynamic fund is expected to have about a 50% weighting to the asset class.

According to T Bailey, the Financial Services Authority (FSA) has approved the name change and unitholders will shortly be sent a circular asking them to approve it.

In a statement, Farley says: “The name change should help advisers and underlines the key distinctions between these two multi-asst funds.”