The departures of Rob Burdett, Scott Spencer and Kelly Prior from Columbia Threadneedle, has seen Fund Calibre remove its Elite Rating from the CT MM Navigator Distribution fund.
Burdett, Spencer and Prior have been part of a multi-manager team that has worked together for many years, alongside Gary Potter, who retired in 2022.
Commenting on the exit of the manager and analysts Darius McDermott, managing director of FundCalibre said: “Despite having a well-resourced multi-asset team, the departures of Rob Burdett, Scott Spencer and Kelly Prior will be a big loss in terms of experience for Columbia Threadneedle, particularly when you consider the loss of former co-head Gary Potter.
“Performance of the fund range has been more challenging in recent years, but the team had an excellent long-term track record. Alongside Gary Potter, Rob Burdett was one of the early pioneers of multi-manager/ fund of funds investing, having worked at Rothschild Asset Management, Credit Suisse and Thames River Multi-Manager LLP. Kelly and Scott have both been long-standing members of the team and have also played a significant part in that success.
“While the fund range retains the experience of some members of the team – who will move over to the Columbia Threadneedle EMEA Asset Allocation team – we feel these significant changes must result in the removal of our Elite Rating on the CT MM Navigator Distribution fund.”
Pictured: The multi-manager team when part of BMO.
