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F&C takes on new manager for UK team

Fund manager Foreign & Colonial has announced the appointment of a new fund manager to its UK smaller companies team.

Catherine Stanley joined the team of four at the beginning of October.

She has been working in the UK smaller companies sector since 1991.

Stanley has moved from the Framlington Group where she was manager of its capital trust, which has invested in the smaller companies sector since 1995.

She replaces fund manager Graeme Bencke, who is moving over to the European smaller companies sector.

The team maintains a collective attitude towards the four main funds it manages. Stanley will mainly be responsible for the UK smaller companies unit trust.

Foreign & Colonial has recently been put up for sale by its German owner Hypovereinsbank.

The bank owns a 90 per cent stake in the fund manager but is changing its corporate strategy. It is looking to dispose of a number of holdings, including F&C.

F&C director responsible for UK smaller companies Sandy Fleming says: “Catherine brings a lot of experience in UK smaller companies with her which will benefit the team. It is especially encouraging that she joins us at a time when there is great uncertainty about our future ownership.”

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