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Analysts&#39 fears over departures from Isis

Fund analysts are concer-ned that the departures of James Foster and Mike Felton could be symptomatic of internal strife in the newly merged F&C and Isis.

Analysts from Rowan & Co Capital Management say that while the merger of the two firms has created a fund manager with an imp-ressive track record, sudden departures were often signs of internal strife.

F&C director of communications Jason Holl-ands says Foster accepted redundancy but the company found Felton&#39s resignation bizarre.

Foster left as head of credit when the same position was not created in the new combined group and he decided not to take up a new role created for him following a sabbatical and took redundancy after 15 years with the firm. No explanation was given for the departure of Felton, manager of the UK prime and UK equity funds, but he had been integral in setting up the new F&C equity team.

Despite Foster&#39s departure, analysts still believe the strategic bond fund will perform well in the hands of new managers Fatima Luis and Alexandra Ralph.

Hollands says: “I know it sounds amazing to say that Mike Felton just left but it amazed us. It was bizarre. He had not even moved across to the new office and so he had not seen what it would be like working in the new structure.”


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