Brooks Macdonald co-founder and fund manager Jon Gumpel to step down

Brooks Macdonald Group plc (“the Group" or “Brooks Macdonald”), the AIM listed investment management group, today announces that, after 28 years with the business, co-founder Jon Gumpel is stepping down as Fund Manager of the IFSL Brooks Macdonald Defensive Capital Fund (“DCF” or “the Fund”), and will be leaving the firm in March 2020. He is handing over management of DCF to Dr Niall O’Connor who has been Deputy Fund Manager since 2016. DCF is a UK regulated OEIC sitting in the Investment Association Targeted Absolute Return sector and had £663 million under management as at 30 June 2019.

Jon was a founding director of Brooks Macdonald in 1991 and since then has played a leading role in the Group’s investment approach. He launched the Defensive Capital Fund in March 2010 and has managed it since. Both he and the fund have won numerous awards and commendations, including Portfolio Adviser’s Gold Fund Award and the Lipper Fund Award for the Absolute Return sector.

Jon said: “With both the company and the fund in very good shape, after 28 years at Brooks Macdonald, now is the right time to step back from the business, and I’m pleased to leave the fund in Niall’s capable hands. I’ve enjoyed working with Niall over the last three years and am sure he will continue the success story of DCF.”

Caroline Connellan, Chief Executive of Brooks Macdonald, said “DCF has been a critical part of the Group’s strong performance and remains core to our offering going forward. As part of our succession planning, I’m delighted that Niall is taking over as Fund Manager and I have every confidence that DCF will continue to go from strength to strength. On a personal note, I am particularly grateful to Jon for the support he has given me since I arrived in 2017.  As one of Brooks Macdonald’s co-founders, Jon has made an outstanding contribution to the firm throughout his time here. I wish him all the very best for the future.”

Dr Niall O’Connor joined Brooks Macdonald in 2013 and has over 20 years of investment experience. In his role as Fund Manager for DCF, he will report to Richard Spencer, Group Chief Investment Officer who, like Jon, is a co-founder of Brooks Macdonald. The Fund will benefit from Richard’s deep investment expertise and 30 years of experience in the industry.