Manager sabbaticals should not lead intermediaries into panic selling

Intermediaries and clients alike must be beginning to wonder whether the word sabbatical is now syno...

Intermediaries and clients alike must be beginning to wonder whether the word sabbatical is now synonymous with departure. Last week, star bond fund manager James Foster decided to leave Isis following a 10- week sabbatical. He is the latest in a long line of managers who have turned a timeout from work into a more permanent break with their employer, following on from William Littlewood at Jupiter and Adrian Frost at Deutsche. More recently, Denis Clough of Schroders stated that if he returns to the group after his sabbatical, it will not be to run the Tokyo fund, the portfolio on which h...