US desk restructure pay off for Threadneedle

Cormac Weldon attributes performance to avoiding market sentiment and steering the team to develop new ideas

Threadneedle is reaping the rewards of restructuring its US team almost three years ago with the £1.1bn American Select fund enjoying strong returns. Led by Cormac Weldon, head of US equities at the group, the proposition, which is ranked 16 out of a possible 81 funds in the North America peer group, returned 0.4% against a sector average of -2.8% over 12 months to 7 August, according to Standard & Poor's. In addition to running the American Select fund, Weldon is deputy manager on the American portfolio and takes personal responsibility for the final decisions on the components of the co...