It is understood that Graham Ashby, LV= Asset Management’s (LVAM’s) head of UK equities, Paul Kim, head of multi-manager and Richard Timberlake, principal fund manager, are not joining Threadneedle.
In August, LVAM outsourced the management of £8.5 billion of its assets to Threadneedle. The transfer of Threadneedle’s funds is expected to take place on October 31.
Ashby runs a £148.8m equity income portfolio at LV= while Kim runs five managed portfolios, including the £36.9m Balanced Managed, £8.2m Diversified Income and £3.2m Worldwide Select funds. It is unclear whether principal fund manager Simon Brooks, who also works on the LV= multi-manager team, will be joining Threadneedle.
Money Marketing, Fundweb’s sister publication, understands that Threadneedle is appointing a multi-manager specialist to work with its existing asset allocation team in the next few weeks.
Threadneedle declined to comment.