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CRUX to take over Sanditon funds following wind up plans

Sanditon Asset Management is winding up and CRUX will take over two of its funds
CRUX to take over Sanditon funds following wind up plans

Sanditon Asset Management is to wind up and transfer the management of the funds it manages to Crux Asset Management and Thesis Asset Management at the end of November.

TM Sanditon European (GB00BNY7YK59) will be renamed TM Crux European Opportunities and be managed by Richard Pease, James Milne and Roland Grender. Crux said that the fund’s investment objectives will remain the same. It aims for growth by mainly investing in equities listed in Europe excluding the UK, aiming for returns of 2 per cent a year in excess of FTSE World Europe ex-UK Index over a rolling three-year period. However, it has underperformed this index over one-, three- and five-year cumulative periods. 

Mr Pease and James Milne run funds including TM Crux European Special Situations (GB00BTJRQ064), which has an excellent long-term performance record, and TM Crux European (GB00BYQJX435). Mr Pease is a highly regarded European equities manager with over three decades of investment experience who has worked at asset managers including Crux, Henderson Global Investors, New Star and Jupiter.

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