Threadneedle launches European Small Cos AR fund

Threadneedle has closed its European Smaller Companies Crescendo hedge fund and launched a new absolute return portfolio focused on the region.

The group has closed the hedge fund as part of a revamp of its range, after  launching the European Smaller Companies Absolute Alpha fund for manager Philip Dicken. Dicken, in charge of the company's £632m Pan European Smaller Companies fund, will have flexibility to take both long and short positions in stocks across the region in the new fund. Dicken, who also ran the Crescendo hedge fund, says the time is right for such a strategy following recent events in Europe. "With the dislocations of the past few years still fresh in investors' minds, the opportunity to add value through ...