Paul Marriage has taken over responsibility for Cazenove’s Absolute UK Dynamic Fund and UK Dynamic Absolute Return Fund; previously Marriage worked with Pegrum on both funds as co-manager. Julie Dean, who manages the firm’s UK Opportunities Fund, has taken over as manager of the Cazenove UK Dynamic Fund, which Pegrum previously ran alone.

Pegrum joined Cazenove in 2004 from Insight; Cazenove then launched the UK Dynamic Fund, with Pegrum as manager, later in the year. During Pegrum’s time at Insight, from appointment as manager to departure, his UK Dynamic Fund outperformed the FTSE All Share index by 54.9 per cent, according to Cazenove. He then went on to perform successfully at Cazenove, with his long-only UK Dynamic fund returning 69 per cent for the 12 months to the end of March this year, according to Reuters, which cited data from Lipper.