Felix Wintle has left Neptune Investment Management after 12 years at the firm.
Following his departure, James Hackman has been appointed lead manager of the Neptune US Opportunities fund and head of US equities. Ali Unwin has been named deputy fund manager and Patrick Close is now a co-manager.
Hackman remains manager of the Neptune US Income fund and Unwin manager of the Neptune Global Technology fund.
The trio will use an investment philoshopy they call compound edge which uses a proprietary quality composite score screening tool developed by Hackman and Close to identify companies with the potential to generate high returns over the long term.
Hackman uses the process in the US Income fund and it will also be the strategy for the Neptune US Mid Cap fund, which is slated for launch this year subject to regulatory approval, with Close at the helm and Hackman assistant manager.
The US Mid Cap fund will sit in the IA North American sector and will aim for capital growth by investing in a concentrated portfolio of 30 to 60 US stocks with target market capitalisations of $0.5-$10bn. At least 60 per cent of the portfolio will be invested in US mid-cap stocks.
Robin Geffen, Neptune’s chief executive, says: “Over the past three years James and Patrick have put in hundreds of hours to arrive at what I believe to be a truly robust approach fit for the challenging markets of the next decade.
“I believe it will enable them to capture the long-term outperformance generated by high-quality companies in the United States at the right price. James’s background as an accountant and Patrick’s as an engineer complement each other perfectly.”
Hackman adds: “It is exciting to have the opportunity to apply the CompoundEdge philosophy on the Neptune US Opportunities fund. I believe the investment philosophy we have developed has the potential to significantly outperform for clients in the years ahead and I look forward to working with the whole Neptune team to achieve that. Existing clients of the fund will see a continuing focus on quality stocks but with a greater emphasis on valuation and the sustainability of profit growth.”