Details of the fund manager change

On 27 September 2022, Columbia Threadneedle Investments (CTI) announced that Richard Colwell, Head of UK Equities and manager of the CT UK Equity Income fund, is retiring in November 2022.

The management of the fund will transition to Jeremy Smith, who is currently Head of UK Equity Research and a portfolio manager in the UK Equities team.  Jonathan Barber remains as deputy manager of the fund.

Changes to the UK Equities team

Jeremy Smith and Catherine Stanley will succeed Mr Colwell to become Co-Heads of UK Equities.  Mr Smith joined CTI in 2015, while Ms Stanley joined the firm following its acquisition of BMO GAM (EMEA) in 2021.  She currently leads a specialist equities team, which will become part of the expanded UK Equities team.

CTI has also indicated that it plans to add a senior equity income manager to the team to strengthen the resources dedicated to the income strategies.

The fund remains on our Recommended list while we consider this changed situation and meet with Mr Smith.  Although there is a high degree of continuity, which is supported by the UK Equities team’s collaborative investment approach, the changes are significant and require review.