North Investment Partners has replaced T Bailey Asset Management as the manager of the Way Multi-Asset Growth fund.
Eddie O’Gorman, the sales and marketing director at Way Group, says priorities for the management of the fund changed after T Bailey started selling its in-house growth funds more actively and Way continued its focus on zero-income investments.
He says John Husselbee, the chief executive of North and manager of the Way Multi-Asset Cautious portfolio, is likely to run the fund along the same lines as Jason Britton, the outgoing manager and chief investment officer at T Bailey. (article continues below)
“There’s no grand deviation from the way it’s being run today. You won’t see big chopping and changing,” O’Gorman says.
Unlike T Bailey, North does not market the funds it manages under its own brand and focuses on running money for other asset managers such as City Financial.