Liontrust Asset Management has confirmed today that Jan Luthman, co-manager of the Macro Equity Income and Macro UK Growth funds, is retiring with immediate effect.
Luthman, who has an investment career spanning 30 years, had managed the funds since their launch in October 2003 and August 2002 respectively.
Co-managers Stephen Bailey, who has also been involved with both funds since launch, and Jamie Clark, who joined the pair in September 2003, will continue to manage the fund.
Luthman, Bailey and Clark joined Liontrust in April 2012 following the company’s acquisition of Walker Crips Asset Managers.
Liontrust’s chief executive John Ions says: “We would like to thank Jan for his contribution to the team and we wish him all the very best in his retirement.
“Stephen and Jamie will continue to manage the funds in exactly the same way as they have always done using the Macro-Thematic investment process, which provides continuity and consistency for our clients and investors.”
Hargreaves Lansdown investment analyst Heather Ferguson says: “It is disappointing to lose Jan Luthman and his 30 years’ of experience.
“His views on the wider economic, political, and social environment shaped where the fund was invested and added considerable value for investors over the long term.”
Ferguson says the managers have the potential to produce good returns, but points out the fund’s ongoing charges are “relatively high” at 0.88 per cent.