Fund management chief exits London boutique

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Ralph Singleton has stepped down as head of fund management at London-based investment boutique Montanaro Asset Management, Citywire Global understands.

It is understood Singleton left the firm at the turn of the year with company founder Charles Montanaro assuming his fund management responsibilities.

Singleton had run the company’s Dublin-domiciled Montanaro Equity Income fund since January 2012. He took over from previous manager Adam Rackley, who ran the fund from January 2009.

The Montanaro Equity Income fund returned 54.32% in euro terms over the three years to the end of January 2013.

This compares to its Citywire benchmark, the MSCI Europe Small Cap TR USD, which rose 38.84% over the same period.