F&C replaces Longden on European Asset trust

F&C has appointed Paras Anand as the manager of its European Assets trust.

The head of European equities replaces Crispen Longden who has run the £78m vehicle since 2000. Longden remains part of the team at F&C in his role as the head of Continental European small-cap equities. Numis says the trust's long-term performance has been poor and the fund has lagged the index over the last year, with a NAV total return of 12% compared to 19% for the HSBC Europe (ex-UK) Smaller Companies index.