Deputy replaces Darrell O'Dea

Darrell O'Dea is stepping down as lead manager on Thread-needle's European Select Growth fund on 1 July to be replaced by his deputy Phil Cliff. O'Dea, who has grown the fund from less than £20m to over £1bn since he took on its management in 1994, will remain on the fund as Cliff's deputy. He will continue to run the Crescendo European fund. Cliff, who launched the firm's 30 stock Pan European Accelerando fund last summer, intends to run European Select Growth as a slightly more concentrated portfolio than it has been in recent months. Currently the fund, which is benchmarked against th...