Alex Wroe and Braydon Barcham will now manage the £60m fund.
Wroe remains deputy manager on the UK Equity Income fund, while Barcham remains deputy on UK Growth. (article continues below)
They have worked on the group’s 11-strong British equities team for several years, starting out as investment analysts and more recently acting as fund managers on institutional portfolios.
Head of UK equities described the move as a “natural progression” for the pair.
Colwell will take up a post at Threadneedle, working closely with Leigh Harrison, now the head of equities, on the firm’s UK income proposition.