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Threadneedle US team follows Weldon to Artemis for five fund launches

Threadneedle US team follows Weldon to Artemis for five fund launches

Five North American equities analysts have followed Cormac Weldon and Stephen Moore from Threadneedle to Artemis, with the firm planning to launch five funds for its new team.

The new recruits are technology specialist William Warren, consumer analyst Paul Gannon, Olivia Miller, Chris Kent, and Nafis Chowdhury.

‘We are delighted to welcome all seven members of this outstanding team,’ commented Artemis head of retail Richard Pursglove.

‘Subject to regulatory approval, we will be launching five funds for them towards the end of Q3 this year. These funds will include long-only and long-short strategies for distribution in the UK and Europe. This significant development for Artemis broadens further the asset classes available to our clients. And given the team’s record, we are confident that they will meet or exceed investors’ expectations.’

Artemis first revealed that it had hired star US managers Weldon and Moore in January.

Weldon (pictured) spent 17 years at Threadneedle, having run its Threadneedle American Select Inst Net Acc GBXAmerican Select fund since December 2001. During the 10 years to January the fund returned 134.5% compared with a 118% rise in the S&P 500, making it the seventh best performer in a 56-strong peer group for the period.

Moore, Citywire AA rated at the time of his departure, returned 52% through his American Extended Alpha fund in the three years to the end of December 2013 versus an average return of 20.3% from his Alternative Ucits long/short equity sector.

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