Chelsea Selection manager given new fund to run

11th January 2016 - River & Mercantile (R&M) has given Philip Rodrigs a second fund to manage. The smaller companies specialist, who already runs the R&M UK Equity Smaller Companies fund, which is on the Chelsea Selection, is to take on the rebranded R&M UK Dynamic Equity fund, which invests in UK companies of all sizes, from Dan Hanbury.

The fund, which has £40m assets under management, previously known as R&M UK Equity Unconstrained, has been managed by Dan Hanbury since 2007. However, Dan is stepping back from the lead role to become alternate manager, as he focuses his attention on the group's larger UK Equity Income fund.

As well as the change of name to UK Dynamic Equity fund, the group will introduce the ability for Philip to use derivatives for risk management purposes.

R&M will also be reducing the annual management charge on the clean retail share class from 1% to 0.75%, to bring it into line with similar products in the range. The fund's ongoing charges figure will be 0.85%.