River and Mercantile Asset Management has renamed Hugh Sergeant's UK Equity Long Term Recovery fund to align it with the firm's other offerings as the strategy marks its tenth anniversary.
The £274m fund, which launched on 17 July 2008, has been renamed the River and Mercantile UK Recovery fund. The fund invests in companies with strong business franchises and depressed share prices, but which are showing signs of recovering. Sergeant targets companies with the potential to double their share prices in the next three to five years, with clear catalysts in play to deliver such growth. As part of the anniversary, River and Mercantile has changed the name of its World Recovery fund - also run by Sergeant - to the River and Mercantile Global Recovery fund. R&M's Sergeant...
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