Ted Scott is returning to F&C after a period of illness but will no longer manage money for the group. Meanwhile several funds will get new lead managers as F&C reorganises its UK equities desk.
When he rejoins in June, Scott will be responsible for providing macroeconomic analysis and developing market strategies for the UK equities desk. His fund management responsibilities will be shared out across the team.
Hilary Aldridge is now lead manager of UK Growth & Income. She was formerly deputy manager of the vehicle and has run it since November 2008 in Scott’s absence.
Catherine Stanley, the head of smaller companies, will take over the Stewardship Growth and Stewardship Income funds. The group says the ethical screening criteria on the funds gives them a natural bias towards small and mid-cap stocks and excludes much of the FTSE 100. The stock screening process remains unchanged.
Phil Doel, the director of UK equities, has taken over the UK Equity Income fund from Julian Cane. He managed a European Dividend fund for M&G during his time there but has not run an equity income vehicle since leaving the group in 2001. Cane will now focus on his investment trust mandates.
Finally, Peter Lees, the head of UK equities, will formally take over as the lead manager of the UK Equity fund. He will alter the strategy of the fund to mirror the institutional high alpha product he also manages.