EFGAM launches UK equity fund for ex-Hermes recruit

Manager joined firm last year

EFG Asset Management has launched a UK equity fund for new recruit John Leahy as part of an expansion of its global equity franchise.

The New Capital UK Select Equity fund will invest in 35-45 UK stocks across the market-cap spectrum. It will be managed by Leahy, who joined the group's London-based pan European equity team last August. He was previously director of UK equities at Hermes Investment Management for 14 years, where he ran UK smaller companies strategies, including the Hermes UK Small and Mid Cap UCITS funds. The portfolio will be managed as a high quality, high conviction fund, using bottom-up stock selection through fundamental analysis. As with all New Capital strategies, the fund is benchmark a...