His colleagues Rachel Reutter and Michael Ulrich will take lead responsibilities for the £1.8 billion (€2.07 billion) fund, with Citywire + rated Wood continuing in the role until the end of September.
In taking over the fund, which is registered for sale in several European countries, the duo will maintain the same investment philosophy and approach followed by the UK opportunities team since the fund’s launch in 2005.
Citywire + rated Ben Leyland had also been co-manager on the UK-domiciled fund alongside Wood for over five years. This was before he relinquished his role, in order to focus on the firm’s global equity strategy in 2015.
In 2015 JOHCM soft-closed the fund to protect liquidity, but swiftly re-opened the fund in January 2016, as the firm believed Wood’s investment approach would be successful.
Commenting on the change, JOHCM’s group CEO, Ken Lambden, said: 'John has generated excellent returns for our clients over the past 11 years. He has always invested with conviction and been prepared to swim against the tide. We thank him for his tremendous contribution.
'He has built a strong team around him. Reutter and Ulrich are highly capable, experienced investors, and we are confident in their abilities to continue the good work that Wood led.'
The JOHCM UK Opportunities fund returned 24.79% in sterling terms, over the three years to the end of February 2017. This compares with a 20.15% rise by its Citywire-assigned benchmark, the FTSE All-Share TR, over the same time period.