Oliphant will now manage the Ucits-compliant Threadneedle UK Corporate Bond Retail fund, having already managed a similar OEIC version of the strategy, the €787 million Threadneedle UK Corporate Bond fund, since 2003.
The fund, previously run by Ross with €200,000 in assets according to Citywire data, was handed to Oliphant as part of a reallocation of responsibilities in the team.
Ross will remain deputy manager on the fund and will continue to manage the rest of his portfolio, that includes the Threadneedle Monthly Extra Income fund, the Threadneedle European Corp Bond fund and the Threadneedle UK Med&Long-Dated Corp Bd fund, unchanged.
A spokesperson at Threadneedle told Citywire: 'David Oliphant already runs a very similar corporate bond fund with a very high degree of commonality with the fund that was run by Alasdair. So, it makes sense to make David the manager of both funds.'
In the past three years to the end of September, the Threadneedle UK Corporate Bond Retail Net Acc fund returned 14.95% whilst the Markit iBoxx Sterling Non Gilts Overall TR index rose 19.07% in the same period.