HSBC multi-manager Pothier to leave industry

HSBC Open funds manager Nick Pothier is to leave the company and return to his native South Africa.

Pothier, who intends to pursue his interests in sustainable farming, will be replaced by Jon Rebak as manager of the £342.30m Open Global Distribution and £132.81m Global Return funds from 1 May. However, Pothier will become a consultant and adviser to the HSBC Open funds to ease the transition. Rebak joined HSBC in 1992 and has managed the £161m HSBC Growth Fund of Funds since launch on in 2003. Over this period the fund has posted a net total return of 91.5%, compared to the IMA's Balanced Managed sector average of 77.9%, according to Lipper. "As part of the team-based management ap...