View the article online at http://citywire.co.uk/wealth-manager/article/a729883
Weldon & Moore quit Threadneedle for Artemis
by Dylan Lobo on Jan 23, 2014 at 12:45
Artemis’ senior partner, Mark Tyndall, said the hires would allow the firm to offer its clients a dedicated North American equity proposition
He commented: 'Our strategy for meeting our clients’ needs continues. With successful launches over the past three years of Global Income, European Opportunities and Global Select funds, complementing our established funds, we have already broadened what we offer our clients. Cormac and Stephen will allow us to add North American equities to our range for the first time.
'The investment records of Cormac and Stephen speak for themselves, as does the scale of the assets they manage. So we will all be very pleased to welcome them to Artemis.'
Sobin, who has 28 years' experience in US equities, joined the firm in September 2011 from Columbia Management - a subsidiary of Threadneedle's parent Ameriprise.
As part of the restructure Threadneedle will increase collaboration with Columbia Management’s US equities team.
Weldon has spent 17 years at Threadneedle, where he has carved out a reputation as a top US equity manager.
He took control of the Threadneedle American Select fund in December 2001 and over the last 10 years the fund has returned 134.5% versus a 118% rise in the S&P 500, making it the seventh best performer in a 56-strong peer group over this period.
Meanwhile Citywire AA-rated Stephen Moore is widely seen as one of the rising stars of fund management. This is demonstrated in the performance of his Threadneedle American Extended Alpha fund, which has returned 52% in the three years to the end of December versus an average return of 20.26% in its Alternative Ucits long/short equity peer group.
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