Simon Edelsten and Alex Illingworth, the Artemis fund managers of Mid Wynd International (MWY ), are leaving the firm, with Alex Stanic joining from JPMorgan Asset Management as the global trust’s new lead investor.

Stanic, who has run the JPMorgan Global Unconstrained Equity fund for seven years, is taking on a new role at Artemis as head of global equities. 

His appointment comes as Edelsten announced he would retire as a partner from Artemis at the end of the year.

Illingworth (below), who had jointly run the £467m investment trust since 2014 when Artemis won the mandate from Baillie Gifford, will leave at the end of this month.

Edelsten, a Citywire columnist, will continue to run Mid-Wynd and the Artemis Global Select  open-ended fund with Stanic for the rest of this year as part of a handover.

Artemis said it would shortly announce two new members of the global equity team to work with Stanic on the Mid-Wynd and Global Select funds. Stanic headed global equities at River & Mercantile before he joined JP Morgan.

‘The board would like to thank them both for their service to our shareholders over what have been tumultuous years in global financial markets,’ said Mid Wynd chair Russell Napier. ‘They leave the company in an excellent position to prosper from here.’

Paras Anand, Artemis’ CIO, also praised their 12 years at Artemis. ‘They have delivered outstanding long-term returns for client portfolios and grown the size of the Mid Wynd and the Artemis Global Select funds substantially.’

Mid Wynd shares fell 2% or 14p to 690p at the news, widening their 2% discount to net asset value.