Cazenove

Managers and fund buyers have begun rotating out of UK mid- and small-cap stocks in anticipation of a mega-cap resurgence.

Former Cazenove European fund manager Chris Rice is to launch a boutique fund management firm with ex-colleague Tim Russell, Investment Week can reveal.

Schroders recorded third quarter pre-tax profits of £121.6m, a 37% increase from £88.6m in Q3 2012, as the impact of the acquisition of Cazenove boosted its numbers.

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Members of the Schroders and Cazenove Capital fund management teams are hitting the road next month to discuss recent changes at the group and to allow advisers to quiz its fund managers.

M&G Investments has regained its number one position on the Pridham fund sales list, knocking BlackRock off the top spot.

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Rob Thorpe has joined Sarasin & Partners as head of retail as the group recruits three former Cazenove sales managers to its enlarged team.

Cazenove Capital's head of UK retail Rob Thorpe is to leave the firm imminently as Schroders concludes its takeover of the group.

Cazenove Capital's European manager Chris Rice has left the firm, ahead of Schroders' takeover of the group next month.