Woehrling exits Martin Currie

EUROPEAN investment specialist Eric Woehrling has left fund manager Martin Currie as the Edinburgh company pushes ahead with a major switch in its global strategy.

The move away from UK equity products into emerging markets has seen a number of staff changes and Woehrling’s £17 million European fund, which has lost 16.3 per cent over the past three months, has been converted to a European Income fund managed by Ross Watson.

Andy Sowerby, managing director for sales and marketing, said: “Our strategic plan necessitated some changes to our personnel. We have added significantly to our capabilities and resources with several senior recruits. Our emerging markets team have started well, outperforming the market and this has already led to us picking up new clients in the UK and overseas.”

Sector observers say funds under management at Martin Currie have fallen substantially, but Sowerby said the company was “not alone in this and in the fund management industry”.