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Michael Vogel has resigned as managing director of Prolific, the fund management arm of Scottish Provident, to become managing director of rival fund manager, Framlington.

Mr Vogel, who built an impressive reputation as manager of Prolific's flagship high income unit trust, will leave at the end of this month after 11 years with the company.

He is joined by Warren Coleman, Prolific's director of operations Prolific runs 16 unit trusts worldwide, managing funds of more than £5bn.