Boss of over-performing Standard Life Investments fund to Legget

Edinburgh-based Standard Life Investments’ UK equity manager Ed Legget is to move on, the wealth manager has confirmed.

Mr Legget, who manages the £1.3bn UK Equity Unconstrained fund, makes the move to “pursue other opportunities”, SLI, the investment arm of insurance giant Standard Life, said.

Mr Legget had managed the fund since 2008 and has overseen the out-performance of the UK All Companies benchmark over all recent time periods, returning 157.34 per cent over five years compared to 78.30 per cent for the benchmark, according to FE. Over one year it delivered 11.80 per cent, compared to 10.32 per cent for the UK All Companies.

Mr Legget will be replaced with immediate effect by Wes McCoy, investment director in SLI’s UK equities team.

Mr McCoy formerly ran SLI’s UK Equity Constrained strategy between 2005 and 2008.

Commenting on Mr Legget’s departure, a spokesperson from SLI said: “Ed was part of our highly successful UK equities team and we would like to wish him well and thank him for his positive contribution to the UK equities team, and the business, over the past 13 years.

“There will be no change to the management style, philosophy or process. Continuity of investment performance and commitment to relationship management remain our key priorities. Wes will be supported by the UK equities team which comprises 15 investment professionals.”