Hufton resigns from embattled Sloane Robinson Europe trust

Michael Hufton has decided to resign from Sloane Robinson Europe (SR Europe), the investment trust which last week was tipped to offer its investors a wind up or cash exit on the back of redemptions and poor performance.

Hufton has managed the trust for around 18 months and in a statement the board thanked him for his efforts.

Hugh Sloane, founder of the Sloane Robinson hedge fund firm, will take over as manager of the investment company.

Sloane, partner and chief executive officer of Sloane Robinson, co-founded the firm in August 1993 and has been at the helm of the company and acted as manager of its International and Japan portfolios since the
inception of the firm.

Sloane began his investment career at GT Management in 1979, where he remained for around 14 years. Initially he worked in Hong Kong as an economist analysing the business cycle in North and South East Asia. In 1986 he moved to Japan as investment director of GT Japan and chairman of its Asian investment committee.