JO Hambro Capital Management has announced that John Wood, who manages the firm’s UK Opportunities fund, will retire later this year.
Citywire + rated Wood (pictured), who will retire from the investment management industry on 30 September, will leave after 11 years at JOHCM and 26 years in the industry.
Rachel Reutter and Michael Ulrich, co-managers of the JOHCM UK Opportunities fund, will take over leadership of the fund and all segregated portfolios, with Wood continuing in his role until the end of September to help with the transition.
Reutter and Ulrich will maintain the same investment philosophy and approach followed by the UK Opportunities team since the fund was launched in 2005, which involves investing in long-term compounding growth stocks with strong franchises and robust balance sheets which are trading on attractive absolute valuations.
Analyst Todd King will continue to provide analytical support to the team.
The £1.8 billion JOHCM UK Opportunities fund has returned 24.8% over three years compared to the sector average of 16%.
Commenting on Wood’s retirement, Ken Lambden, JOHCM group CEO, said: ‘He has always invested with conviction and been prepared to swim against the tide. We thank him for his tremendous contribution.
‘John has built a strong team around him. Rachel and Michael are highly capable, experienced investors, and we are confident in their abilities to continue the good work that John led.’
Wood said: ‘After 26 years in a demanding industry, I am looking forward to a fresh chapter in my life. I am grateful for the support given to me by clients over the years, but I will leave JOHCM knowing that the portfolio is in safe hands with Rachel and Michael at the helm.’