Columbia Threadneedle has handed control of its €1.2 billion Threadneedle American Select fund to AA-rated Ashish Kochar, Citywire Selector has learned.

This comes as the firm’s London-based head of US equities, Diane Sobin, prepares to return to the US on personal grounds, ceding management of the American Select fund. Sobin, who moved to London in 2011 will continue to have input on the team from the US.

As part of the transition, Sobin will also no longer manage the Threadneedle (Lux) American fund, the Threadneedle American Retail fund and the Threadneedle American Smaller Companies fund.

The move has seen the firm review its EMEA-based US equities team and refine the approach taken in managing strategies and funds. Nadia Grant, who managed the funds alongside Sobin, will assume management of the London-based US equities team, while Kochar will now head up the American Select fund.

In a statement to Citywire Selector, Columbia Threadneedle said: ‘Diane Sobin, head of Columbia Threadneedle’s London-based US equities team, will relocate back to Columbia Threadneedle’s US office in July 2017. As a result, Ashish is now leading on the American Select fund.

'Ashish, will bring a similar focus on quality and concentration (40-50 stocks) that he has brought to the management of the highly successful Extended Alpha franchise along with Amit Kumar over the past three years.'

Over the three years to the end of June 2017, the Threadneedle American Select fund returned 21.41% in US dollar terms. This compares with a 31.70% rise by its Citywire-assigned benchmark the S&P 500 TR, over the same time period.