Head of retail Richard Pursglove called the team “outstanding” as he confirmed that the funds – which were subject to regulatory approval – would include long-only and long-short strategies for distribution in the UK and Europe.
In January, it was announced that Weldon and Moore would be leaving their posts and joining Artemis, seen widely by the industry as a major loss for Threadneedle.
Team structure yet to be decided
Fund manager William Warren will also be joining from today (7 May), alongside analysts Olivia Miller, Chris Kent, Nafis Chowdhury and Paul Gannon. A spokesperson from Artemis said it had not yet been decided which sectors the individuals would be covering.
Artemis’ senior partner, Mark Tyndall, said in January: “Our strategy for meeting our clients’ needs continues. With successful Global Income, European Opportunities and Global Select funds, we have already broadened what we offer our clients. Cormac and his colleagues will allow us to add North American equities to our range for the first time.”
Final stages of team rebuild
Threadneedle is currently in the “final stages” of rebuilding its US equities team, which currently comprises Diane Sobin as head of equities, fund manager Nadia Grant, who joined from JPMorgan in February and Brad Colton as analyst.
Meanwhile Threadneedle has confirmed it will be increasing its collaboration with Columbia Management’s US equities team – Columbia being the US-based asset management subsidiary of Threadneedle’s parent Ameriprise Financial.
"This approach offers our clients the benefit of a fully resourced team that leverages the significant capabilities, intellectual capital and strength of both organisations,” a spokeswoman added.
