Tom Wilson, who runs a pair of UK equity funds at BMO Asset Management, has resigned from the business, FTAdviser can reveal.
Mr Wilson runs the £60m F&C UK Mid Cap fund, and the £64m F&C UK Alpha fund, as well as an institutional mandate.
He joined BMO straight from university in 2007. He became the lead fund manager of both of those funds in 2015.
The F&C UK Alpha fund has underperformed the IA UK All Companies sector over the past three years to 29 May, returning 28 per cent, compared to a return of 30 per cent for the average fund in the sector in the same time period.
The F&C UK Mid Cap fund has been a better performer, returning 28 per cent in the three years to 29 May, compared with 20 per cent for the average fund in the IA UK All Companies sector in the same time period.
A representative of BMO Global Asset Management said: “I can confirm that Tom Wilson will be leaving BMO Global Asset Management to pursue another opportunity.’
‘Tom is under a three-month notice period and his portfolios are now under direct day-to-day oversight by David Moss, managing director, co-Head of Global Equities at BMO Global Asset Management. Tom is in the process of handing over their day-to-day management to David.
"Tom’s role will be replaced in the team and we are evaluating all the options to ensure the continued effective management of these assets. We will communicate Tom’s replacement in due course.”