F&C UK Mid Cap removed from Chelsea Selection following manager resignation

31 May 2018 -  BMO Asset Management has announced that Tom Wilson, manager of the F&C UK Mid Cap fund, has resigned and will be leaving the company.

As a result, the fund has been removed from the Chelsea Selection and downgraded to a generic 'hold'.

Tom is in the process of handing over the fund – and F&C UK Alpha – to David Moss, managing director, co-head of global equities, who will have direct day-to-day oversight of the portfolios until a replacement is announced.

Commenting on the departure, Darius McDermott, managing director of Chelsea, said: “It's a real shame as Tom had just marked his third anniversary as lead manager on the fund and had done extremely well, outperforming the sector average and most of his peers by a considerable margin. However, we wish Tom all the very best in his new role.

“We have downgraded the fund to a generic 'hold' rating until we have more details about who his successor will be and have had a chance to meet them.”