More Defections At ABN

Thomas runs ABN's UK Growth and Select Opportunities funds and has been with the company for 16 years. Luckraft, who manages the UK Equity Income and High Income funds, has been there 6 years longer.

The investment industry is said to be shocked at the defections. Thomas, in particular, is seen as a major star - his UK Growth fund has averaged returns of 18% during the last 3 years, at a time when the FTSE All-Share has fallen 9%.

The two fund managers are technically on 12 months notice, but it is thought that they will be released earlier by ABN.

The Dutch bank is going through a tough time at present as staff wonder where the organisation is headed.