Following the announcement that co-manager of the (Columbia) Threadneedle European Select fund, Mark Nichols, is departing the firm, we have taken the decision to suspend our AA rating. Fellow co-manager, Dave Dudding, remains in situ and will be joined by Benjamin Moore as co-manager. Mr Moore is a current member of the firm's European equities investment team and does have some experience of managing money. We intend to meet with Mr Dudding and Mr Moore over the coming weeks to ascertain how the change will effect the fund in the future and will keep investors updated.