Star equity performer Tim Albrecht has handed his tech fund over to DWS analyst Marcus Poppe in order to concentrate on the firm's strategy in German equities, Citywire Global has learned.
Marcus Poppe has been deputy manager and analyst on the DWS ZukunftsInvestitionen which has been managed by Euro Stars A-rated Albrecht since its launch in 2006. As of last Tuesday, Poppe has been made the official lead manager of the fund with €237 million in assets.
'Albrecht is very much a specialist in German equities and this will mean that he can further concentrate on that fund,' a spokesperson told Citywire Global.
'Poppe has been involved in managing the fund for a very long time and it's only the natural progression that he should become the manager of the fund.'
Albrecht will continue to manage the DWS Deutschland fund which currently has just under €3 billion in assets.
The move follows other major reshuffles in DWS' senior management. Last month it emerged that veteran equity manager Klaus Kaldemorgen was being replaced on his flagship funds by former Union Investment star manager, André Köttner.
The DWS ZukunftsInvestitionen fund returned 45% in the last three years. Its benchmark, the MSCI World TR index, rose 35% in the same period.