A veteran precious metals portfolio manager and a long-time gold analyst have lost their jobs, the latest fallout from the prolonged downturn in the mining sector.
Ani Markova, a fund manager with AGF Investments, and Peter Maletis, a precious metals analyst with Franklin Templeton, were laid off within the past few weeks.
A long-time employee of AGF, Ms. Markova was a vice-president and portfolio manager for the investment firm’s Precious Metals Fund. Mr. Maletis was an analyst who supported Franklin’s Gold and Precious Metals Fund.
They were both let go after years of declining investor interest in the gold and metals sector. Ms. Markova and Mr. Maletis separately declined to comment.
Amanda Marchment, a spokeswoman for AGF, said: “We do not comment on personnel exits.” David Sylvester, a spokesman for Franklin Templeton, said: “While there was a decision to eliminate this particular role and not replace it, the Franklin Equity Group team is well-resourced.”