23 June 2015 - Ed Legget, manager of SLI UK Equity Unconstrained fund, has announced his resignation from the company. As a result, the fund has been removed from the Chelsea Selection.
The fund will pass to Wesley McCoy, who returned to Standard Life Investments in 2012. Wesley constructed the fund and managed it for the first three years from launch, before leaving the company. Ed took the fund on in 2008.
Darius McDermott, managing director of Chelsea, commented: “Their 'Unconstrained' range are flagship funds so this is a blow to Standard Life Investments and disappointing for investors. We haven't met Wesley, so unfortunately the fund must come off the Chelsea Selection and be downgraded to a generic 'hold' rating.”
Ed will be joining Artemis Fund Managers later this year to take on the management of their UK Growth fund when the incumbent manager, Tim Steer, retires.