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Candriam switches lead manager on thematic fund

Candriam switches lead manager on thematic fund

Asset management firm Candriam has named Marc Bollé as the new lead manager on its global telecoms fund, Citywire Global has learned.

He takes over the Candriam Equities B Global Telecom fund from Johan van der Bieste, a veteran investor who has been a portfolio manager at Candriam – formerly known as Dexia Asset Management - since 1997.

Bollé was formally appointed to manage the fund on April 4 and will continue to run the four other funds currently under his control at the group.

Van der Biest, meanwhile, will remain as lead manager on three thematic funds: Global Demography, Global Technology and Leading Brands.

The Candriam Equities B Global Telecom fund invests solely in communications and service providers within the telecoms sector. The largest country exposures are currently USA (33.5%) and the UK (15%).

The fund is domiciled in Belgium and registered for sale in France, Germany, Luxembourg and the Netherlands.

It has returned 31% in euros terms over the three years to the end of March 2014. This compares to a rise of 29% by its Citywire benchmark, the FTSE AW/Telecommunications TR, over the same period.

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