Threadneedle considering US-focused equity AR fund

Threadneedle is considering an expansion of its absolute return range in the coming months, with the possible launch of a long/short fund focused on US equities.

The group, which already manages over $3bn in absolute return strategies, says it has received strong client demand for a Ucits III-compliant US long/short equity fund – which is likely to target returns of 8%-10% per annum. Stephen Moore would oversee the new vehicle, utilising the manager’s existing capabilities running the group’s £122.8m American Extended Alpha 130/30 product and American Crescendo hedge fund. Moore’s 130/30 fund was ranked first in the IMA North America sector since its inception in October 2007 to 31 January 2010, returning 11.1% against an average 6.4% decline....