Rutter seeks Australian backing after shock Royal London exit – report

Peter Rutter is reportedly close to securing backing for his new funds venture from Australia’s Pinnacle Investment Management following his shock resignation as Royal London’s equities boss.

Australia’s Financial Review reported Pinnacle, which takes stakes in ‘affiliate’ fund groups and provides them with distribution support, is understood to be in advanced talks over providing equity backing to the new business.

Royal London Asset Management announced Citywire AAA-rated Rutter’s resignation as head of equities yesterday. His fellow AAA-rated colleagues Chris Parr, Will Kenney and James Clarke, along with Citywire + rated Niko de Walden, have resigned to join Rutter in his new venture.