Mike Balfour, the manager and chief
investment officer of Edinburgh Fund Managers (EFM), has resigned.
His role was to oversee the
group’s investment process and he was also the named manager of Edinburgh Investment Trust, with
responsibility for risk control, gearing and share buy-backs.
As a result of the resignation Robert Waugh, head of UK
equities at EFM, has taken over responsibility for day-to-day
management of the company.
Balfour’s resignation follows the departure of several key
fund managers from EFM earlier this year and is seen as a significant loss.
