Under the restrictions, clients can redeem existing holdings in the funds but cannot buy shares through the platform until further notice. The restrictions were placed on MIGO and Crux European Special Situations on 7 and 14 September, respectively.
Following the retirement of Crux founder Richard Pease at the end of August, and Lansdowne Partners’ acquisition of the firm, Daniel Avigad took over the management of the TM CRUX European Special Situations fund and its Luxembourg-domiciled counterpart on 1 September.
Lansdowne Partners completes acquisition of CRUX Asset Management
Pease had managed the £393.9m fund, uninterrupted, since its launch in October 2009. Avigad joined Lansdowne Partners in April 2006 and has been the portfolio manager of the firm’s European Long Only strategy since March 2013.
On the Premier Miton front, Charlotte Cuthbertson, the co-manager of the MIGO Opportunities trust alongside Nick Greenwood since October 2018, departed the firm and relinquished her portfolio management duties at MIGO in November last year, followed by Greenwood who left two months later.
Their departures triggered the board of MIGO to serve Premier Miton with a six months’ protective notice on its investment management agreement, culminating in the appointment of Asset Value Investors (AVI) as the trust’s new AIFM and investment manager in July.
MIGO Opportunities appoints AVI as former co-manager Cuthbertson takes the reins again
The trust will return under Cuthbertson’s leadership, who joined AVI this summer, with a further senior appointment with relevant experience set to be revealed in due course.
Fidelity said it does not comment on individual decisions, but noted it provides “broad guidance” on its website on how it assesses and monitors assets on the platform.
