Richard Colwell becomes lead manager on Elite Rated Threadneedle UK Equity Income fund

1st October 2015 - Columbia Threadneedle has announced that, as of today, Richard Colwell, previously co-manager of the UK Equity Income fund, will become lead manager and Leigh Harrison will become deputy manager. The pair have co-managed the fund since 2010.

Richard Colwell started his career at the Bank of England in 1990. In 1994 he joined Schroders before moving to Credit Suisse and then Aviva. In 2010 he joined Threadneedle and is also the sole manager of the UK Growth & Income and Managed Income funds. Leigh Harrison has 30 years industry experience. He joined Threadneedle in 2005 and now oversees the UK and European equities teams, as well as being a member of the Business Management Committee.

A spokesperson for Columbia Threadneedle said: “It has always been the intention that Richard would become lead manager, and this change reflects his successful management of the fund over the past five years. We believe that this gives better accountability for the running of the fund and recognises Richard’s outstanding track record in UK equity income management. As a member of the UK equity income team and deputy manager of the fund, Leigh will continue to be actively involved in the strategy.

Richard and Leigh will continue to co-manage the Threadneedle UK Equity Alpha Income fund.

Commenting on the change, Juliet Schooling Latter, research director at Chelsea, said: “Richard is a very experienced manager and, as there is no change to the investment process of the fund, we are happy to maintain its generic 'buy' rating”.