Crux AM poaches fund manager from LGIM

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London-based boutique Crux Asset Management has appointed Richard Penny as fund manager.

Prior to that, Penny was a senior fund manager within the high alpha team of Legal & General Investment Management (LGIM). He was lead manager of the L&G Alpha Trust and the L&G UK Special Situations Trust funds.

Commenting Penny’s appointment, Alistair Reid, CEO of Crux Asset Management, said: “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.”

Crux Asset Management was established in 2014.

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