Threadneedle's Stipp to take over EMD funds

Threadneedle's Henry Stipp is to take over management of Threadneedle's £742m Emerging Market Bond fund following the departure of Richard House.

House, head of emerging market debt at Threadneedle, resigned earlier this month to join Standard Life Investments. Stipp, manager of the offshore $150m Global Emerging Market Short-Term Bonds fund since 2009, will now take over as manager of the EM Bond fund, which is top quartile in the IMA Global Bonds sector over the five years to 13 April. The fund has returned 64.7% over five years versus a sector average return of 49.4%, according to Morningstar. Stipp, who joined Threadneedle in 2001 as a strategist and economist for emerging debt markets, is also expected to take over mana...