UK-based Royal London Asset Management has confirmed that two of its fund managers are to leave for pastures new amid a series of changes within the firm’s fund positioning.

Following a period of consultation with clients and the regulatory authorities, RLAM will change the way it manages some of its equity assets, with the result that it will switch the management style of its Japanese and Far Eastern assets from active to passive. These changes are subject to FSA approval and a shareholder vote.

The management of the £289 million (around $456 million) Royal London Japan Growth Fund and the £478 million Royal London Far East Fund, as well as £360 million in separately managed assets in these regions, will transfer to the firm’s existing passive equity team.

As a result, the current manager of the Royal London Japan Growth Fund and the Royal London Far East Fund - Jonathan McClure and Edward Chan respectively - will be leaving RLAM.

Meanwhile, Jane Coffey, head of equities at RLAM will consider her future at the firm in light of the recent changes, the firm told this publication.

“We are currently in discussions with Jane Coffey regarding how this will impact on her,” a spokesperson said.

Coffey joined RLAM in 2002, and has 26 years of investment experience, including roles at Provident Mutual and Morley Fund Management.

In other recent developments, last month RLAM hired Rob Williams as head of distribution. He was previously a senior manager at Skandia.