F&C's Doel to take on British Assets trust as Dent retires

F&C Investments' Julie Dent is set to retire from fund management on 30 September and will hand over the reins of the £490m British Assets investment trust to Phil Doel.

The trust's objective policy, to invest in global equities with a UK focus, will remain unchanged.

Dent has headed up the trust since 2001 and is a member of the group's global equities team, having joined the group in 1986.

Doel heads up the group's £212m UK Equity Income fund, which last month merged with its £31m UK Growth and Income fund, run by Hilary Aldridge.

Doel has previous investment trust management experience, running the F&C UK Select trust prior to its wind-up last year.

Dent also heads up the group's £33m MultiManager investment trust, which she will hand to Peter Hewitt, manager of the £44m F&C Managed Portfolio trust, upon her retirement.

Last month F&C appointed Charlie Porter as head of its investment trust range in a move to raise the profile of its closed-ended suite in the run up to RDR.