Following the news that Ed Legget, manager of the Standard Life Investments UK Equity Unconstrained fund, is leaving Standard Life Investments (SLI), we have removed the fund from our Recommended list.

Wesley McCoy, investment director in the UK equities team, is taking responsibility for the management for the fund with immediate effect.  He was previously the manager of the fund from its launch in 2005 until 2008, when Mr Legget was appointed.

SLI has confirmed that there will be no change to the investment approach and that the fund will continue to be managed with the support of the well-resourced UK equity team, which operates according to the clearly articulated ‘Focus on Change’ process.

We will compose a ‘Guidance’ piece in the coming days, which will explain our current views on the fund more fully in a Q&A format.