CRUX Asset Management Ltd. (CRUX), an employee-owned investment management business, has appointed fund manager, Richard Penny.
Penny joins CRUX from Legal & General Investment Management (LGIM) where he was a senior fund manager within the High Alpha team and was lead manager of the L&G Alpha Trust and the L&G UK Special Situations Trust. Prior to this Richard worked for M&G and Scottish Amicable.
CRUX was established in 2014 and is dedicated to providing superior returns to investors coupled with excellent client service. Its flagship fund, the CRUX European Special Situations fund is broadly recognised as one of the strongest performers in its sector. The CRUX European fund which launched in November 2015 has also delivered strong performance.
Alistair Reid, CEO of CRUX Asset Management, says: “We are very pleased to bring an investor of Richard’s calibre to the team. During his long tenure at Legal & General Investment Management, Richard has displayed exemplary skill as a fund manager and his expertise in managing mid and small cap UK equities will complement and strengthen our investment proposition. We believe Richard will contribute greatly to the collaborative culture at CRUX and we look forward to welcoming him to the company.”
