Threadneedle is replacing Darrel ODea with Phil Cliff as manager of its European Select Growth fund.
The fund invests in a concentrated portfolio of funds in continental Europe or which have continental European operations. It is up 10.9 per cent over a year, down 13.5 per cent over five years.
Cliff has been number two on the team and currently runs Threadneedles pan-European Accelerando fund.
Chelsea financial services managing director Darius
McDermott says: “The fund has had a very consistent performance but it is not as high profile as it once was. Hopefully this change will provide the boost the fund needs.”