F&C director of UK and European equities Peter Lees is to hand over his UK equity fund responsibilities as the group bids to turn around performance, Investment Week can reveal.
Lees (pictured), who has been at F&C since 2005 and run the fund since 2008, will hand over the £78m portfolio to Michael Ulrich and Tom Wilson on 1 January 2015. Ulrich runs the £19m F&C UK Mid-Cap fund, while Wilson is an assistant fund manager in the UK equities team. Lees will remain manager of the group's £40m Global Thematic Opportunities fund alongside Alice Evans, and continues as a director of UK and European equities at the company. F&C UK Alpha is bottom quartile in the IMA UK All Companies sector over three and five years, according to Morningstar. The fund has retur...
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