Mark Nichols has taken over from Paras Anand on the F&C European growth and income fund.
Nichols replaces Anand who left to become head of pan-European equities at Fidelity Worldwide Investments.
Anand’s shock departure was announced in September last year, and marked the end of a four year career at F&C Investments, having joined in 2007.
He managed a number of funds at F&C and was replaced on the European Assets trust by Sam Cosh.
Anand is to manage the UK and continental European equity portfolio management teams at Fidelity and will report to chief investment officer Dominic Rossi.