Investec hands UK Alpha fund to Philip Rodrigs
Philip Rodrigs is to take over as manager of the Investec UK Alpha fund as the group expands the scope of his mandate.
Rodrigs, who will continue to manage the top-performing £367m Investec UK Smaller Companies fund, will become lead manager on UK Alpha on 2 April, taking over from Ken Hsia, who will become alternate manager.
Hsia will continue to manage a number of UK segregated accounts and maintain his role as part of Investec’s 4Factor equity team, which will continue to feed in large-cap stock ideas to the £35m UK Alpha fund. This is a concentrated, go-anywhere portfolio of between 30-50 stocks that can hold up to 20% in small caps.
Rodrigs’ (pictured) primary responsibility will continue to be the UK Smaller Companies fund, and the group will not step-up promotion of UK Alpha until he has had time to establish a significant track record on the vehicle.
“Philip will continue to focus on delivering outstanding risk-adjusted returns for our investors in the Investec UK Smaller Companies fund,” said Investec UK client group managing director David Aird.
“Given the additional resource we have added to the UK 4Factor equity team over the past year, it is a natural step to expand his responsibility to include the UK Alpha fund, a multi-cap fund which leverages the wider team’s large cap focus and also allows Philip to draw on his proven small cap experience.”
Rodrigs, who does not run any other mandates for the group, has guided Investec UK Smaller Companies to the top quartile of the UK Investment Management Association (IMA) UK Smaller Companies sector over both three and five years.
The fund has returned 168.2% over the three years to 16 March versus a sector average return of 115.6%, and 52.7% over five years versus a sector average of 13.1%, according to Morningstar.
UK Alpha, meanwhile, has returned 14.7% over five years versus an IMA UK All Companies sector average return of 12.4%. Over three years it has returned 71.4% versus a sector average of 76.5%.
This article was first published on Investment Week