River and Mercantile Asset Management LLP has renamed Hugh Sergeant’s UK Equity Long Term Recovery Fund as it celebrates its 10th anniversary. The £274 million fund, which launched on 17 July 2008, has been renamed the River and Mercantile UK Recovery Fund to align it more closely with the firm’s other offerings. The UK Recovery Fund invests in companies that have a strong underlying business franchise whose profits, and share prices, are depressed but are showing signs of recovery. The profits of a recovery share are usually depressed due to either economic or sector dislocation or poor management decisi...