F&C UK equity manager Michael Ulrich is to leave the firm.
Co-manager Tom Wilson will take on full responsibility for running the group's UK Mid Cap fund as well as the F&C UK Alpha fund, which he and Ulrich took on in January ahead of former head of UK equities Peter Lees' departure in in February.
Lees was taken off the £79.6 million UK Alpha fund after a run of disappointing performance. The UK Alpha fund has returned 9.6% against the peer group's 40.82% over three years and under Ulrich it is up 4.2% against a sector average of 5.32% over the last three months.
The £28 million UK Mid Cap fund is up 11.14% over one year compared to a sector average of 7.42% and over three-years it has returned 72.2%, outperforming the peer group's 68.43% gain.
An F&C spokesperson said: 'Michael has resigned and his responsibilities will be passed on to Tom Wilson, co-manager of F&C UK Alpha fund. Tom has extensive experience in managing UK equity portfolios, and a strong performance record. The European equities team is an 11-strong team led by David Moss.'