SWIP hands European Income fund to McNaught-Davis

SWIP's Mike McNaught-Davis has temporarily taken over responsibility for the SWIP European Income fund as co-manager Steven Maxwell takes extended sick leave.

OBSR said it has suspended the £47m fund's A-rating due to the circumstances. "OBSR is saddened to hear the news that Steven Maxwell, manager of the SWIP European Income fund, is taking extended sick leave," the group said. "While the European Equities team at SWIP is well resourced and the fund continues to be managed according to the long-established process, it is suspending the fund's OBSR A-rating due to the change in circumstances. Mike McNaught-Davis has taken interim responsibility for the fund. OBSR extends best wished to Mr Maxwell well for a speedy recovery." A spokesper...