UBS US fund manager Kemp to leave

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UBS Global Asset Management fund manager Lawrence Kemp has left after 20 years at the company, with his £128.8m UBS US Growth fund to be co-managed by Sam Console and Peter Bye.

A UBS spokesman says: “We can confirm that with immediate effect, Sam Console and Peter Bye have been appointed co-portfolio managers for the US large cap growth equity strategies.

“Paul Graham, head of growth equities, will take on the role of senior portfolio manager for the US large cap growth equity strategies. Lawrence Kemp has resigned from his role as head of US large cap growth equity.”

Kemp was a managing director, joining in 1992, and had held a number of senior investment roles, including co-head of fixed income and chief investment strategist.

The news has seen the fund’s four star rating from Bestinvest suspended and remove from its Premier Selection list.

The US Growth fund was awarded a bronze rating by Morningstar OBSR earlier this year.