Sanditon AM rues lack of value appetite as it prepares to close down

Transferring two funds to CRUX AM

Sanditon Asset Management will close down and hand the management of two of its funds to CRUX Asset Management after years of pedestrian performance.

Management of the £306m TM Sanditon European fund and the £22m TM Sanditon UK fund will be renamed and transfer to CRUX. Richard Pease and James Milne will become managers of the TM CRUX European Opportunities fund, with Jamie Ward taking charge of the TM CRUX UK Opportunities fund. The other two funds managed by Sanditon, the £25m TM Sanditon UK Select fund and £112m TM Sanditon European Select, will transfer to its ACD, Thesis Unit Trust Management, which will make alternative arrangements and update investors directly. Sanditon will continue running the four funds for the next six ...