Threadneedle's Michael Poole is to become lead manager on the group's £790m European High Yield Bond fund as Barrie Whitman steps back.
Whitman, head of high yield at Threadneedle, has co-managed the fund with Poole over the past two years. As of 1 May he will become deputy manager on the fund, with Poole taking over as lead manager.
Whitman (pictured) will continue to manage a variety of other portfolios at Threadneedle, including the £394m Strategic Bond fund.
"In the past two years, Michael has already significantly contributed to the outperformance of the fund for our clients," Whitman said.
"I regard his becoming lead manager as a natural progression of his excellent management skills and look forward to supporting him on the fund as deputy manager and Threadneedle’s head of high yield.”
Threadneedle European High Yield Bond has returned 16.7% over the past year, according to FE, compared with an IMA Global Bonds sector average return of 10%.
Over three years it has returned 18.1% compared with a sector average return of 18%.
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