Threadneedle's Dudding steps down from European small-cap fund

Threadneedle's Dave Dudding has stepped down from his £1.1bn European Smaller Companies fund in order to take over one of the group's global mandates.

The manager - whose small-cap fund is one of the best in the sector - will take over as lead manager on the Luxembourg-domiciled Threadneedle Global Focus fund. Mark Heslop will take over the £1.1bn European Smaller Companies fund on 1 January next year, while Dudding assumes management of the global fund in April 2013. Dudding (pictured) continues to run the £1.4bn European Select fund, the number one fund in the IMA Europe ex UK sector over the last three years. The Threadneedle European Smaller Companies fund has returmed 46.3% over the past three years, well ahead of the IMA Eu...