JO Hambro CM today announced that the lead manager of the UK Opportunities fund, John Wood, has decided to retire. This comes into effect from the end of September 2017 with Wood retaining his day-to-day responsibilities on the strategy until then. He’s been in charge of the fund since launch in November 2005.
The group says that the fund’s philosophy and process will remain unchanged. Taking over lead management responsibilities are Wood’s current deputies, Rachel Reutter and Michael Ulrich.
As a result, we’re temporarily suspending the fund’s rating from 5 stars to 2 stars (hold/review) and will make a decision on whether to formally reinstate the fund’s rating following our meeting with the co-managers in due course. This suspension should not be interpreted as the fund receiving a switch (one-star) rating, it is simply a response to a potential material change to the fund. We will update you after our meeting with the managers.
The value of investments, and the income derived from them, can go down as well as up and you can get back less than you originally invested.
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