Peter Lees has resigned from F&C, two months after handing over his UK equity fund to other managers.
Lees (pictured) had been a director of European and UK equities at F&C since 2005. He handed over the £78m UK Alpha fund, which he had run since 2008, to Michael Ulrich and Tom Wilson after several years of underperformance. The fund had returned 30.8% in the five years to November, against a sector average of 67.3%, according to FE. Lees had continued to work on the £40m Global Thematic Opportunities fund alongside the global equities teams. Prior to joining F&C, he was head of equities at Deutsche Asset Management, where he worked from 1992. F&C’s spokesperson said, “Pe...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes