Scott, who has been away due to illness, will be responsible for macroeconomic analysis and advice on market strategy across the UK equities desk.
The move marks a reshuffle of the F&C UK equities desk, including those funds previously managed by Scott.
Hilary Aldridge has become lead manager of the UK growth and income fund. Aldridge was previously the deputy manager but has run the vehicle since Scott’s departure in November 2008.
Head of smaller companies Catherine Stanley is to take on the flagship stewardship growth and stewardship income funds. F&C believes the screening process applied to the ethical friendly funds leans away from larger companies sitting within the FTSE100.
Other changes include director of UK equities Phil Doel taking over on the UK equity income fund from Julian Cane, with Cane set to focus on investment trust mandates, and finally head of UK equities Peter Lees taking over as lead manager of the UK equity fund.
Head of equities Richard Wilson says: “We’re delighted that Ted has made a good recovery and look forward to having him back in the team. Ted’s skills as a top-down analyst of the economy and markets are widely recognised as one of the key ingredients behind his long-record as a successful investor and these complement the ‘stock picker’ bias of the rest of the team. In his new role, the whole of the UK equities team will be able to benefit from his insight.
“In realigning portfolio management responsibilities, we are very confident that we have the right people on the right funds. We look forward to both continuing to build on success of the Stewardship funds and to growing a significant equity income business through a range of products that are differentiated by their distinct investment styles.”