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Neptune US Opps loses fifth manager in two years


Neptune US Opps loses fifth manager in two years

 

Neptune Investment Management has experienced more upheaval on its US equity desk. 

In the latest change, US equity head Alastair Unwin has stepped down from his short tenure on the firm’s £260 million US Opportunities fund and is leaving the firm.

George Boyd-Bowman (pictured), manager of the top performing Neptune US Income fund , will replace Unwin as manager of the Opportunities fund while also taking on his head of US equities mantle. 

Storm Uru, assistant manager on the US Income fund, will support Boyd-Bowman on the US Opportunities fund, with Neptune founder and chief executive Robin Geffen also providing assistance. 

Geffen will also take on Unwin’s Global Technology fund, assisted by Ewan Thompson, Chris Taylor and Boyd-Bowman, with country allocation overseen by Neptune chief investment officer James Dowey.

The firm also intends to appoint a new technology analyst at the start of next month. 

Unwin was appointed lead manager on the US Opportunities fund following the exit of Robin Milway, who himself had run the fund for a relatively short spell following the departure of the then Neptune US equities head James Hackman in 2016.

Patrick Close, who managed the fund alongside both Hackman and Milway, was taken off the fund last summer.

The appointment of Boyd-Bowman means the fund has changed hands four times since the departure of long-standing manager Felix Wintle in May 2016.  

Unwin had performed strongly after taking the fund on in July 2017, returning 20.2% in the last 12 months versus a peer group average of 14.6%. The fund is ranked 43rd out of the 280 funds in its peer group with a one-year track record.

However, the constant upheaval appears to have had some bearing on longer term performance, with the fund ranked in 191st spot over three years returning 47.3% versus a peer group average of 56%.  

Boyd-Bowman has quietly been building a strong track-record at the helm of the US Income fund, which he took on in September 2016. In the last 12 months he has returned 14.8% versus a peer group average of 10.5%.

Commenting on the appointment, Geffen said: ‘I am excited about this opportunity for George, who has proven himself to be a great talent at Neptune over the past eight years.

‘I believe he will provide great long term performance over the next decade and beyond in the US for Neptune’s investors. We wish Ali all the best for the future.’  



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