Threadneedle Investments has announced that no fund managers from LV=Asset Management will be joining the group following its £8bn outsourcing deal.
Money Marketing revealed that key LVAM managers Graham Ashby, Paul Kim and Richard Timberlake were not joining Threadneedle last month.
In August, LV= announced that it had agreed a deal with Threadneedle to outsource management of approximately £8bn of retail assets and external funds.
This includes the transfer of LV=’s Oeic retail fund range to Threadneedle. The names of these retail Oeics have changed to Threadneedle. There is no change to the fees, and there are no proposed immediate changes to the investment objectives or policies of the funds.
Threadneedle has appointed Giles Gilbertson from IMS as head of multi-manager. He joins on November 1 to work on the multi-manager range of funds.
Threadneedle product development director Damian Barry has been appointed multi-manager fund manager and will manage the unfettered range of funds.
The Threadneedle UK equity income fund will be managed by head of equities Leigh Harrison and manager Richard Colwell. The UK growth fund will be managed by fund manager Mark Westwood.
The Threadneedle UK corporate bond fund will be managed by fund manager Alasdair Ross.