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Miton’s Bill Mott to retire at the end of the year

Thursday 31st July 2014

Miton fund manager Bill Mott has announced he will retire at the end of 2014, bringing to an end a 37-year career in fund management. As a result, the Psigma Income fund has been removed from the Wealth 150.

Mott will continue to manage the fund until his retirement, when he will then pass on the reins to current co-managers Eric Moore and Gervais Williams. Moore has worked with Mott since May 2010 and Gervais Williams has been involved with the fund since the end of 2013.

Mott made his name during a 30-year spell at Credit Suisse before joining Psigma Investment Management at its launch in 2007. Psigma was bought by Miton in July 2013.

“The Psigma Income fund has been removed from the Wealth 150 following Bill Mott’s retirement announcement,” Laith Khalaf, Senior Analyst at Hargreaves Lansdown, explains. “Though we expect the fund to continue to be managed along the same lines, we believe it is prudent to remove the fund from the Wealth 150 while we monitor its performance under the new management.”

He continued. “Bill Mott has been largely correct when it comes to his calls on the UK economy since the onset of the financial crisis. However, our analysis suggests his lacklustre performance in recent years has been down to poor stock selection.”

Looking at Mott’s entire track record as a manager dating back to 1986, he has returned 846% compared with 457% from the IMA UK Equity Income sector and 403% from the FTSE All-Share. Put simply, he has returned 1.88 times as much as the FTSE All-Share.

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