Threadneedle’s Davis to take over European fund

Threadneedle fund manager Nick Davis is taking over the firm’s £583m European fund, as part of a reshuffle caused by the resignation of head of global equities Jeremy Podger. Davis currently runs the £12.3m pan-European equity dividend fund which he will continue to run.

The firm announced yesterday that Podger has resigned from Threadneedle to run the £1.5bn global special situations fund at Fidelity Worldwide Investment. He will replace Jorma Korhonen as the manager of the fund in March next year.

Podger’s £736.7m global select fund will be managed by his replacement William Davies, who was previously head of European equities at the firm and now will be taking up the role of head of global equities. New hire Neil Robson will take over the £8m Threadneedle global extended alpha fund.