Funds Centre

F&C's Ted Scott returns, but in a different capacity

F&C has recently announced that Ted Scott, the manager of their UK Growth & Income, Stewardship Income and Stewardship Growth Funds is returning in June after recuperating from a period of ill health.However, he returns in a different capacity

to provide economic and market analysis to the UK equity team. This means he will no longer be directly managing the funds.Hilary Aldridge, who has been the deputy manager alongside Ted Scott since 2005 on the F&C UK Growth & Income Fund will take over as the lead manager. There will be no change to the fund’s investment approach.In terms of F&C’s ethical funds, the Stewardship Income and Stewardship Growth funds have been taken over by Catherine Stanley, F&C’s Head of UK Smaller Companies. F&C believes she is well suited for the role as both funds have a bias in smaller companies.The news of his return is clearly welcomed, but it is disappointing that Ted Scott will no longer manage any of the funds. We have pointed out before that Hilary Aldridge has detailed knowledge of the F&C UK Growth & Income Fund having worked alongside Ted Scott for several years, and investors should not be alarmed by these changes. Catherine Stanley, with her experience in smaller companies, should also prove to be a good replacement for the funds.We believe investors should continue holding these funds and we will monitor how the new managers get on. If our views change we will keep investors fully informed.Meera Patel, Senior Analyst> Key Features of the F&C UK Growth & Income Fund> Key Features of the F&C Stewardship Income Fund> Key Features of the F&C Stewardship Growth Fund