London-based F&C Investments is losing two of its top fund managers to a hedge fund.
Makis Kaketsis and Luke Newman have left the asset manager for an undisclosed hedge fund. The duo told F&C that it is not a competitor.
At F&C, Newman ran a £62 million (US$127 million) Special Situations fund, and Kaketsis the firm’s U.K. Dynamic Fund. In addition, the pair ran a British 130/30 product launched in August.
The Special Situations fund has reportedly been charged to Hilary Aldridge, who manages the U.K. Growth & Income funds where she is responsible for small and mid cap stock selection. The firm said there would be no change to Aldridge’s existing role. The U.K. Dynamic fund will be co-managed by F&C head of equities Peter Lees and U.K. Smaller Companies fund portfolio manager Catherine Stanley.