Richard Colwell is to take over from Leigh Harrison as lead manager of the Threadneedle UK Equity Income fund from 1 October.
The duo have co-managed the £3.2bn portfolio since 2010, when Colwell (pictured) joined Columbia Threadneedle, formerly Threadneedle, from Aviva Investors.
Over the past five years to 28 September, the portfolio has achieved a total return of 68 per cent versus an IA UK Equity Income sector average of 56 per cent, according to FE Analytics.
Despite stepping back, Harrison, who is head of European and UK equities at the fund house, will still play a role in the fund’s management.
In a statement, Columbia Threadneedle said: “Richard Colwell will become lead fund manager on the Threadneedle UK Equity Income Fund from October 1 2015, reflecting Richard’s very successful management of the fund over the last five years.
“This recognises Richard’s outstanding track record and experience in UK equity income management and gives greater accountability for the management of the strategy. As a member of UK equity income team, and deputy manager of the fund, Leigh Harrison will continue to be actively involved in the strategy.”
Colwell also runs the Threadneedle UK Growth & Income fund and co-manages the Threadneedle Monthly Extra Income and UK Equity Alpha Income portfolios.
Prior to joining the firm from Aviva Investors, the manager had portfolio management roles at Credit Suisse and Schroders and worked at the Bank of England.
