Head of research at Jenkins Investment Management (JIM), Scott Armstong, has left and won’t be replaced as the manager adopts a “;less prescribed”; structure to research according to managing director David Alyward.

Armstrong’s departure two weeks ago after more than five years with the boutique manager had been amicable, Alyward said. “;He just decided that was enough time. He’s planning to take a short break and we wish him well.”; Armstrong’s role would not be replaced directly, Alyward said, because he did not think JIM’s research function “;required that level of stewardship”; in future. “;I want to let the personalities of our younger analysts come through a bit more,”; Alyward said. A new executive, whose role will be designated ‘senior investment analyst’, is set to join JIM in about six weeks, Alyward said, subject to contract finalisation. JIM runs broad market, small cap and mid-cap portfolios, and recently won the first mandate for its Australian long/short fund, which Alyward said was benefiting from the return of volatility to the market.