Standard & Poor’s Fund Services has placed six Hunter Hall equities funds ‘On Hold’ following the resignation of chief executive officer and portfolio manager David Buckland.
After 11 years at Hunter Hall, Mr. Buckland is leaving the firm effective June 1 when Michael Walsh will take over as interim CEO until a permanent replacement is found.
Hunter Hall has also announced the appointment of two portfolio managers, Jonathan Rabinovitz (who is returning to the company) and Simon Bridger. They will commence on June 4 and July 1, respectively.
Mr Buckland’s resignation is the second senior departure from the team in six months, after portfolio manager and deputy chief investment officer (CIO) Jack Lowenstein’s resignation in November 2011. We believe that the latest departure represents further significant organisational disruption at Hunter Hall.
S&P Fund Services analyst Tom Mills said: “We consider it prudent to place the funds ‘On Hold’ to enable us to fully assess the impact of these changes on Hunter Hall’s organisation and culture. We are currently in the process of conducting our Global Equities sector review and expect to publish our findings, including those on the Hunter Hall funds, in June”.