Star UK Fund Manager Nigel Thomas to Retire

Manager of the Silver Rated AXA Framlington UK Select Opportunities fund to be replaced by Chris St John

David Brenchley 26 April, 2018 | 5:48PM
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Nigel Thomas, the star fund manager of the Morningstar Silver Rated AXA Framlington UK Select Opportunities fund, will retire in March 2019, the company announced on Thursday.

Chris St John, manager of the AXA Framlington UK Mid Cap fund, will replace Thomas on the Select Opportunities fund from December 31 2018. AXA says St John will continue the fund’s “well-established investment philosophy and process”.

Thomas has managed the fund for 16 years, providing investors with a return of 380% since his appointment in September 2002. That compares with the benchmark FTSE All Share’s 230%.

While paying tribute to Thomas’s reign, Mark Beveridge, global head of AXA IM Framlington Equities, said St John had been identified as “the clear successor” back in 2013. He praised St John’s “great track record”, adding: “We have one of the most highly regarded UK equity teams… who have delivered outstanding results for our clients over an extended period of time.”

Since St John became manager of the Mid Cap fund, it’s more than doubled the return of Thomas’s offering, delivering 155% growth. He will continue to run this fund in conjunction with Select Opportunities.

Thomas said he and St John have “very similar investment styles”, noting that he and the wider UK equities team at AXA have “contributed a huge amount to the idea generation” implemented in Select Opportunities.

“I have 70% of my SIPP invested in the fund and plan to keep it there – testament to my faith in Chris to continue to deliver superior returns for clients,” he said.

Managing a near £3 billion offering promises to bring its new challenges for the new manager, though. St John’s current vehicle has less than £200 million in assets.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
AXA Framlington UK Mid Cap Z GBP Acc309.60 GBP0.16Rating
AXA Framlington UK Select Opps Z Inc150.30 GBP0.00Rating

About Author

David Brenchley

David Brenchley  is a Reporter for Morningstar.co.uk

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