Caddick and Vaughan leave LV=

Tom Caddick, the head of multi-manager at LV= Asset Management (LVAM), and Toby Vaughan, the principal fund manager within the multi-manager, have resigned.

Tom Caddick
Tom Caddick

It is understood that Caddick and Vaughan will join Santander Asset Management.

LVAM has confirmed that both Caddick and Vaughan are leaving and it is  currently recruiting for a new head of its multi-manager team. Meanwhile, Simon Brooks will assume responsibility for the range. Brooks joined LVAM in June 2008, when the LV= Managed Portfolios were launched. (article continues below)

Brooks will be supported by Piers Hillier, the chief investment officer at LVAM, in the ongoing management of the funds.

A spokesperson for LVAM says Brooks has 16 years experience in the multi-manager arena and was “instrumental in establishing LVAM’s multi-manager approach”. LVAM says its multi-manager funds have always been managed on a team basis and the process will not change.

“Investors should see no impact on the management of their funds,” she says.

Vaughan was appointed principal fund manager within the multi-manager team in April this year. Like Caddick he joined from F&C Asset Management.

According to Trustnet, Caddick used to manage the LV=Balanced Managed, LV=Stockmarket, LV=Diversified Income, LV=Managed Portfolio 3, LV=Managed Portfolio 4, LV=Managed Portfolio 5, LV=Managed Portfolio 6 and LV=Managed Portfolio 7.