Neptune manager exits after double fund closure

Now shut around a third of fund range

Neptune Investment Management has closed a further two vehicles in its range, leading to the exit of fund manager Ian Sealey.

The group, run by founder and CEO Robin Geffen (pictured), has decided to close its Cautious Managed and Defensive Managed funds, which had £846,500 and £163,800 assets under management, respectively. A statement from the group said: "Following a review, the Neptune Cautious Managed and the Neptune Defensive Managed funds will be closed. "Despite a strong track record under fund manager Ian Sealey, these funds remained sub-scale. Ian Sealey leaves Neptune with our best wishes and by mutual consent. Ian left the company on 31 December 2015." Neptune's Geffen: I am not stepping down,...