Global manager Holliman quits Threadneedle for Polar Capital

Threadneedle global equities manager Andrew Holliman is leaving after seven years with the firm to join Polar Capital.

It is understood Holliman will launch a new fund at Polar Capital but the firm is yet to confirm any details. Holliman manages the Threadneedle American and AXP world equities funds.

Head of US equities Cormac Weldon will take over as lead manager of the £1.6bn American fund, assisted by fund manager Stephen Moore.

Head of global equities Jeremy Podger will run the £9.5m global extended alpha fund, helped by global equity fund manager Steve Thornber.

The American fund delivered a top-decile return of 36.2 per cent over five years to May 6, against the IMA North American sector average of 20.4 per cent, according to Morningstar.

Threadneedle chief investment officer Mark Burgess says: “We are disappointed but we believe Threadneedle’s collab-orative, team-based approach underlies our successful performance across asset classes. Our US equities performance has been particularly strong under the leadership of Cormac Weldon and I am confident this will continue.”