The British Assets Trust has announced manager Julie Dent will be replaced by Phil Doel, as the former is due to retire in the autumn.

The F&C Asset Management head of global equity portfolios has managed the investment trust since 2001, but is set to retire from 30 September.

Doel - a director, within the UK Equities Team - currently manages the open-ended F&C UK Equity Income fund and will take over the investment trust, located in the AIC Global Growth & Income sector.

Dent joined F&C in 1986, having previously worked as a structural engineer for Ove Arup & Partners.

Her responsibilities on the fund of investment trusts F&C Multimanager Investment Trust fund will be taken over by Peter Hewitt.

Hewitt currently manages the F&C Progressive Growth, a sister fund of investment trusts, investing in investment trust zero dividend preference shares.

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