Legal & General Investments has axed Robert Churchlow, the group's head of UK equities, from his two UK mandates, with the manager's future now uncertain after the company declined to comment on whether he still worked for the firm.
The group has taken Churchlow off its £155m L&G Growth trust, as well as the £29m UK Absolute fund, while it has also removed North American trust manager Mel Jenner and Pacific Growth trust manager Lloyd Branford. Despite cutting Churchlow from both funds the group refused to say whether he had left the firm. His funds have struggled in recent years, with the L&G Growth trust returning just 5.7% in the last year, ranking it 266th in the IMA UK All Companies sector universe of 272 funds. The average fund delivered 21%. The Absolute fund has fared better, returning 9.8% in the last ...
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