F&C has insisted it is business as usual despite the resignation of fund managers Luke Newman and Makis Kaketsis.
The pair have decided to part company with the firm they joined at the end of 2005 and take up a role at a global hedge fund group.
First-time manager Hilary Aldridge has been handed control of Newman’s UK Special Situations fund, while UK equities chief Peter Lees and smaller companies head Catherine Stanley will take over Kaketsis’ UK Dynamic fund.
Lees will also oversee the F&C Enhanced Alpha UK Equity 130/30 fund, which Newman and Kaketsis managed since its August launch.
F&C communications head Jason Hollands says the senior managers will have no problem filling the void.
“We have very strong and experienced UK equities team with 11 managers, so there is no need to rush out to recruit anyone,” he says.
“The funds Luke and Makis managed are relatively small for the firm, they account for about 1% of the total funds managed.”
Hollands says the firm is particularly excited for Aldridge, who will also continue in her role overlooking small and mid caps for Ted Scott’s offerings.
“The fund Aldridge will take over has a strong emphasis on the small and mid caps and it does fit well with her skills set and experience,” he says.
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