This is the second time that Mahon has shaddowed Citywire AA-rated Nangle. Nangle spent nearly 15 years at Barings, and was director of its multi-asset group for the last four years there.
Mahon will join in September, following nine years at Barings where he ran a seven-person team managing $5bn (£4.1bn) as head of multi asset (EMEA).
He previously worked at Momentum Asset Management, Coronation Fund Managers and Oliver Wyman.
At Columbia Threadneedle, Mahon will report to Paul Niven, who took over Nangle’s role of head of asset allocation upon his departure.
Niven said: ‘Christopher’s process and style are similar to that employed within the Dynamic Real Return strategy and I’m confident that under his management the strategy will continue to deliver strong risk adjusted returns.’
The Dynamic Real Return fund aims to deliver a return of UK CPI+4%. Over the past year it has failed to meet that target, returning 2.9% compared with a sector average of 4%.
Over three years the fund has more impressive performance, returning 15.8% compared with the peergroup’s 14% return.