Threadneedle head of UK equities Simon Brazier and co-manager Blake Hutchins have left the firm to join Investec Asset Management.
Head of equities Leigh Harrison will lead the UK equities team in Brazier’s stead, having done the job between 2006 and 2011. The team runs £18bn across UK equity mandates.
The move will see Investec launch a UK Equity Income fund to be run by Hutchins.
Brazier will join the Investec Quality function as co-head with Clyde Rossouw, manager of the Investec Global Franchise fund.
Investec co-chief investment officer Domenico Ferrini says: “We are delighted that such high-calibre investment professionals have decided to join Investec Asset Management. This deepens our capability in UK equities and positions us to better meet the requirements of our UK advisor and institutional clients, and respond to the increasing interest from international investors for UK Equity strategies.”
Investec UK managing director David Aird says: “Simon has an excellent UK equities track record. Positioning him alongside Alastair Mundy and his complementary Value Team provides our clients with a compelling choice of UK equity-centric funds that strengthens our market position and relevance.”
Brazier’s £2bn Threadneedle UK fund will be taken on by Chris Kinder immediately, he will retain the reins of the Threadneedle UK Extended Alpha fund.
Threadneedle chief investment officer Mark Burgess says the team is based on co-operation and integrated research and will cope without Brazier and Hutchins.
“Threadneedle has one of the largest and best performing UK Equities teams in the industry, and I am confident that under the resumed leadership of Leigh Harrison the team will continue to deliver for our clients,” he says.