Janus Henderson is to replace the managers of the £235m Henderson US Growth fund with two managers running existing Janus strategies, after two years of "disappointing relative performance" on the vehicle.
Doug Rao and Nick Schommer, both of whom are based in the group's Denver office, will take over management of the fund from Derek Pawlak, Michelle Picard and Scott Priebe on 11 December.
In a letter to advisers, the group said the change is in "clients' best interests" as Rao and Schommer's expertise running US equity strategies would be a "stronger fit for the fund, as well as affording more immediate access to the large equity research team based in Denver" as the current managers are based at the group's Geneva Capital Management business in Milwaukee.
The pair already manage the $251m Janus US Twenty fund while Schommer also runs the $27m Janus Opportunistic Alpha fund, both of which focus on US equities and have a particular emphasis on large US companies.
Janus Henderson also said it hopes the change will help strengthen the performance of the fund, which has been weak over the last two years.
Over two years to 10 November, the fund has returned 25%, significantly underperforming its IA North America sector average return of 41% during the period, according to FE.
The group said: "We recognise that relative performance of the fund in the last two years has been disappointing, with the gains on the fund lagging behind the Investment Association North American sector average.
"The change of manager seeks to revitalise performance."
There will be no change to the fund's investment objective, benchmark, or fees.
Since the completion of the merger between Henderson Global Investors and Janus Capital in May this year, the combined group has made a number of changes to its fund range.
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