Threadneedle's European manager Davis to exit

Threadneedle's European equity manager Nick Davis is leaving the firm, handing his funds to Paul Doyle and Dan Ison.

Davis, currently lead manager on three European portfolios - the £45m Pan European Equity Dividend, £123m Threadneedle European (ex UK) Growth and £603m Threadneedle European funds - will leave in the near future. Under Davis, the two largest funds have struggled over the last three years,  delivering bottom quartile returns. However, his smaller pan-European income fund is top quartile over the same period. Following his departure, Doyle will take over as lead manager on the two larger European funds while Ison will run the Pan European Equity Dividend fund. The group said in a st...