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alongside James Inglis Jones last year after former manager William Meadon stepped back from active fund management, will cease to run the trust and focus on his other funds.
Hollyman already runs the GBP55 million (JPMF UK Dynamic Inc) and the GBP135 million (JPMF UK Smaller Cos A Acc) retail unit trusts.
JPMF spokesman Simon Crinage told Citywire: 'Ross has moved because he has many responsibilities in the group and is the lead manager on a number of other funds.'
Jeremy Wells, a manager of charity funds at JPMF and previously a fund manager at Gartmore, Phillips and Drew and Scottish Amicable, will take over management of the fund alongside Inglis Jones.
The GBP150 million JPMorgan Fleming Mid-Cap investment trust stands on an 11% discount to its net asset value, compared to its average 9% discount over the past 12 months and an average 10% discount among trusts in the UK Growth sector.
The trust's shares dropped 3p to 273.5p today.