Collins Stewart head of UK small and mid cap equities Martin Turner is leaving to join MAM Funds, Money Marketing understands.
Turner will co-manage the diverse income trust alongside Gervais Williams.
The fund aims to focus on quoted British small and mid caps, holding between 1-1.5 per cent of the total portfolio in each investment. It will also invest in UK micro-sectors.
The diverse income trust, which saw its listing on the London Stock Exchange finalised in April, issued 100 million shares priced at 50p each and met its capital raising target of £50m last month.