Jon Gumpel, a co-founder of London-based Brooks Macdonald, is to retire from managing the £663 million IFSL Brooks Macdonald Defensive Capital Fund (DCF) prior to leaving the firm in March 2020.

Dr Niall O’Connor, the deputy fund manager since 2016, will assume management of the fund.

Mr Gumpel was a founding director of Brooks Macdonald in 1991 and has played a leading role in developing its investment management approach. He launched the DCF in 2010.

This has generated 6 month, 1-year, three-year and five-year returns of 2.4 percent, 4.8 percent, 10.0 percent and 27.1 percent respectively.