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AAA-rated Dudding to relinquish Europe fund in Threadneedle shake-up

AAA-rated Dudding to relinquish Europe fund in Threadneedle shake-up

 manager David Dudding (pictured) is to step down from the fund next year to take on a global remit at the group.

The Citywire AAA-rated Dudding will be replaced on the fund by Euro Stars and Citywire Top 1000 star Mark Heslop from 1 January, but will still retain control of his large cap focused fund.

Dudding will take the reins of the Threadneedle (Lux) Global Focus Fund from 1 April 2013, replacing Neil Robson who will continue to run his healthcare and StanLib mandates at the group.

Both Dudding and Heslop have produced strong performances over the past few years, with Heslop ranked 18th in the Citywire Top 1000 and 12th in the European equities sector of Citywire's Euro Stars.

Over the three years to the end of November, Heslop's Threadneedle (Lux)-Pan Europ Smaller Cos AE (MF) Fund has more than doubled the return of his benchmark, posting 54.7% compared to the MSCI Europe Small Cap TR EUR (IN) return of 24.8%.

Fellow star and Citywire Selection manager Dudding has also posted impressive numbers.

Over five years to the end of November, Dudding's European Smaller Companies fund has returned 47.2% compared to the HSBC Smaller European (ex UK) Companies TR (IN) loss of -4.63%.

Threadneedle's head of European distribution, Dominik Kremer said: 'Both Mark and David are extremely talented managers and have demonstrated exceptional track records of outperformance in the funds they manage.'

'Both managers will remain as part of Threadneedle’s award-winning European equities team, led by Philip Dicken.'

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