The move comes after F&C announced that Scott’s three month sick leave is to be extended by a further three months, with fund managers Hilary Aldridge and Phil Doel running the portfolios in his absence.
Hargreaves Lansdown analyst Stuart Goodwin says: “Whilst we sympathise with Mr Scott’s health problems, this additional delay inevitably raises questions about when or if he will eventually return. F&C maintain that he will return to managing the funds in future; if this indeed happens then we shall reassess the funds for possible inclusion back on the Wealth 150
“Importantly, we do not believe existing investors should sell. Hilary Aldridge has been working closely with Ted Scott for many years and has detailed knowledge of the portfolio. We believe she will do a good job of managing the funds in Mr Scott’s absence, especially with the support of Phil Doel.”