Threadneedle’s European has promoted Richard Colwell to lead manager on the £3bn UK Equity Income fund, with head of equities and former co-manager Leigh Harrison remaining as deputy manager.
Colwell has been co-manager on the fund for five years, and will take over as lead manager from 1 October 2015. Harrison will remain as co-manager on the fund.
“This recognises Richard’s outstanding track record and experience in UK equity income management and gives greater accountability for the management of the strategy,” says a Columbia Threadneedle Investments spokesperson. ”As a member of UK equity income team, and deputy manager of the fund, Leigh Harrison will continue to be actively involved in the strategy.”
Harrison recently handed over responsibility for head of UK equity research to former Neptune UK equity manager Jeremy Smith. Harrison said the hire will help to expand the UK equity team, which has been growing this year.
The Threadneedle UK Equity Income Fund has returned 41.60 per cent in the past three years, compared to 37.98 per cent for the benchmark.