Star F&C fund manager Ted Scott has taken three months' sick leave after a recurrence of an injury sustained following a skiing accident 20 years ago.
Scott, who runs the F&C Stewardship Growth and Stewardship Income funds, is expected to be off until February on doctor’s orders due to a bout of serious headaches as a result of a head injury.
In his absence, the mandates, £571m and £298m respectively, will be co-run by Hilary Aldridge and current F&C Opportunities fund manager Phil Doel. Aldridge has been co-managing the Stewardship funds alongside Scott since 2001.
F&C says Aldridge will take care of the small and mid cap stocks with Doel, who also runs the F&C UK Select investment trust, taking care of large cap stock selection and “contributing to the overall strategy of the funds”.
Fund ratings agency Old Broad Street Research (OBSR) says both vehicles will keep their A rating despite Scott’s temporary absence. “All of us at OBSR wish Mr Scott a speedy recovery and return to work,” OBSR research director Richard Romer-Lee says.
Meanwhile, Standard Life Investments today says its UK Equity High Income fund has been awarded AAA by Standard & Poor’s (S&P). A total of 19 of the firm’s 24 actively managed funds are now rated A or above.
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