OBSR drops Threadneedle fund after Podger departure
Old Broad Street Research (OBSR) has dropped the Threadneedle Global Select fund, following the departure of manager Jeremy Podger.
Podger has resigned from Threadneedle and will become manager of the Fidelity Global Special Situations fund, replacing Jorma Korhonen.
Podger is to be replaced on the fund by William Davies, who becomes head of global equities at Threadneedle.
Under Podger, the fund held an OBSR AA rating, but has now been removed from the fund rating service.
“While we hold Mr Davies in high regard and the Threadneedle European fund, which he managed held an OBSR A rating, we feel that given his new role and wider remit it is prudent at this stage to remove the rating from Threadneedle Global Select,” a statement from OBSR reveals.
“We will continue to meet with Mr Davies and monitor the fund’s progress.”
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