Article #891380654
Wednesday, April 1st 1998, 12:00AM
Colonial Investment Management (NZ) Limited (CIM) has announced that Steve Napier would be leaving the organisation as a result of the redundancy of his position.In July of last year, CIM repositioned itself as a truly active fund manager, specialising in the management of Australasian equities. This was a significant shift from its previous "index hugging" approach to investment management.
"Our truly active approach requires us to make, at times, what many would consider to be very bold decisions; decisions for which the team collectively takes responsibility. Given that these decisions were based on a team approach, there was a reduced need for two equities specialists within the group," the company said in a statement.
This move is not a precussor to CIM shifting its investment management team to Australia.
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