Royal London Asset Management has boosted its UK equity team by two as veteran fund manager Derek Mitchell retires.
Mitchell was at RLAM for 10 years managing the RL UK Opportunities and the RL UK Mid Cap Growth funds. He worked in the wider £35bn equities team alongside star fund manager Henry Lowson, who joined the asset manager in September to run the RL UK Smaller Companies fund.
Following Mitchell’s departure, Lowson and assistant fund manager Henry Burrell, who joins RLAM from Smith & Williamson, will run the UK Mid Cap Growth fund.
Meanwhile the firm has also hired fund manager Craig Yeaman from Saracen Fund Managers to run the UK Opportunities fund.
RLAM chief investment officer Piers Hillier says: “We thank Derek for all his contributions in the 10 years he spent at RLAM, and for taking the time to work closely with Henry Lowson to ensure a smooth handover.”
Lowson adds: “Craig and Henry are a great fit and will be instrumental to the continued success of the team.”
RLAM, which manages a total of £111bn, says it has no “immediate plans” for any other fund launches in its Alpha strategies. However, it will continue to review its offering.