The River & Mercantile UK Dynamic Equity Fund has been removed from the Wealth 150+ following the departure of Philip Rodrigs, the fund’s manager, from the business. He left today, 7th February, following an internal investigation into his professional conduct.
River & Mercantile Asset Management has confirmed the conduct issue was unrelated to his fund management responsibilities. It has not impacted the management of the fund, its performance, or pricing. They also confirmed no investor has been negatively affected in connection with this matter.
William Lough has taken over management of the fund will immediate effect. He has been an analyst on River & Mercantile’s Equity team and worked on a number of their funds, but he has no track record running a fund in his own right.
We backed this fund because of the experience and performance track record of Philip Rodrigs. We only highlight fund managers with long, successful track records and exceptional performance potential to our clients. Therefore, in light of Philip Rodrigs’ departure and the fact William Lough has no demonstrable track record we no longer believe this fund deserves a place on the Wealth 150+. The Wealth 150+ is reserved for what we believe are the very best funds, available with the most competitive ongoing charges.