'We are disappointed to hear about the upcoming change in management, especially so soon after a previous change in January,' HL's Kate Marshall said.
Columbia Threadneedle’s European Select fund has been removed from Hargreaves Lansdown’s Wealth Shortlist following news that the strategy’s lead manager will step down later this month.
Fred Jeanmaire is set to step down as lead manager of the fund at the end of May, but will not leave Columbia Threadneedle, with Dan Ison, a senior member of CT's equities team, set to replace him as lead manager.
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Ison will be flanked by existing co-manager Paul Doyle and deputy manager Charlotte Burrows.
HL's lead investment analyst, Kate Marshall, said that while Ison has more than three decades of investment experience, his focus has predominantly been on institutional rather than retail clients.
"We expect the fund to continue to be managed using a similar investment philosophy and approach, but naturally all fund managers will have some difference in views, and we expect some changes to the fund over time," said Marshall.
Jeanmaire's departure as manager comes shortly after Ben Moore stepped back as lead manager of the fund in January 2026 to join BlackRock's European equities team.
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"We are disappointed to hear about the upcoming change in management, especially so soon after a previous change in January," the HL lead investment analyst said.
"Since then, our conviction has been with Jeanmaire as lead manager and, while changes should be expected from time to time, we prefer to see a lower level of turnover and more consistency and continuity in a fund's management team," Marshall added.
In the 12 months to the end of April 2026, CT European Select has returned 5.8% compared to the IA Europe ex-UK's 15.6% and the FTSE World Europe ex-UK's 19.4%, according to HL.
A Columbia Threadneedle Investments spokesperson said: ""Frederic Jeanmaire has decided to leave Columbia Threadneedle Investments to take up a role outside the firm."
"Frederic's portfolio responsibilities will transition to other senior portfolios managers within the European equities team at the end of May 2026. The investment approaches of the strategies remain unchanged."
