Wealth Shortlist Update: CT European Select

We have been informed by CT (Colombia Threadneedle) that Fred Jeanmaire will step down as lead manager of the CT European Select fund and leave the business at the end of May to join another asset management firm.

Dan Ison, a senior member of CT’s European equities team, will replace Jeanmaire as the fund’s lead manager, alongside existing co-manager Paul Doyle and deputy manager Charlotte Burrows.

Our view

We are disappointed to hear about the upcoming change in management, especially so soon after a previous change in January. 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.

Ison is an experienced investor with 30 years’ experience investing in European companies, mainly for institutional investors. While this provides him with valuable fund management experience, it hasn’t been directly for 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.

Jeanmaire’s departure, and the fact two senior members of the team are leaving in close succession, means we have some concerns around retention and the level of stability within the team. For these reasons, we have decided to remove the fund from the Wealth Shortlist.

Although we're removing the fund from the Wealth Shortlist, this isn't a recommendation to make any changes to an investment portfolio. Investors should make sure any investments match their investment goals and attitude to risk and are held as part of a diversified portfolio. If you're not sure if an investment is suitable for your circumstances, please seek personal advice.