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Threadneedle yielding bond trio

Threadneedle is losing three of the five members of its high-yield bond team.

Steve Harrison, Duncan Farley and Stephen Wingate are to leave this summer, having been recruited by an unnamed hedge fund manager.

The team manage Threadneedle’s 268m high-yield bond, 424m strat- egic bond and 122m Euro- pean high-yield bond funds.

The departures follow last week’s replacement of Darrell O’Dea with Phil Cliff as head of Thread- needle’s European select growth fund and the spate of moves has prompted analysts to question whether all is well at the investment firm.

Hargreaves Lansdown investment manager Ben Yearsley says: “It is a bit of a blow to Threadneedle. Their equity performance has not exactly been shooting the lights out over the last two years, but one of the things that has done well for them is the sale of high-yield bonds. To lose three to their stronger-performing team presents problems.”


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