FINANCE NEWS: Cazenove boosted as five managers quit posts at HSBC

Five top fund managers are quitting HSBC Asset Management to move to Cazenove in the autumn.

They follow Andrew Ross, who moved from HSBC to become chief executive of Cazenove at the end of last year, and who has initiated radical changes to the company's investment strategy.

One of his innovations has been to plan the launch of two new common investment funds later this year, one which invests in hedge funds, and another that focuses on achieving a high income from equity investments.

Nicholas Reid, Cazenove's head of charities, said: "Cazenove is not sitting back, it is being proactive and developing interesting propositions for charities. The arrival of these new team members with such good track records is very good news for Cazenove's charity clients and should be of great interest to charities contemplating reviewing their investment management arrangements."

Wade Pollard, one of the former HSBC team, will join Cazenove's Matt Hudson in running the new Equity Income and Growth Trust.

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