River and Mercantile Fund Downgraded

Morningstar analysts have downgraded River and Mercantile UK Smaller Companies as the fund manager faces an internal conduct investigation

David Brenchley 7 February, 2018 | 12:39AM

The River and Mercantile UK Equity Smaller Companies Fund has been downgraded by Morningstar analysts after manager Philip Rodrigs was sacked for a “professional conduct issue”.

River and Mercantile (RIV) says the issue was unrelated to his portfolio manager responsibilities and that no investor or client has been negatively affected. Shares in the company fell 7% in morning trading on Wednesday to a four-month low 316p.

Rodrigs was widely seen as a rising star in UK fund management and had overseen impressive performance of the formerly Silver Rated fund Dan Hanbury has been re-appointed manager.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
River & Mercantile UK Eq Sm Cos B Acc1,683.01 GBP-0.32
River and Mercantile Group PLC175.00 GBP0.00
River and Mercantile UK Dynamic Eq B Acc369.27 GBP-1.31
River and Mercantile UK Micro Cap Ord105.50 GBP0.00

About Author

David Brenchley

David Brenchley  is a Reporter for Morningstar.co.uk

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