Threadneedle launches commodities fund

Threadneedle has launched a commodities fund for David Donora, the head of the group's commodities desk.

The Threadneedle Enhanced Commodities fund (TECF) is a long-only Ucits III portfolio domiciled in Luxembourg. It invests across a range of global commodities, with energy the largest sector weighting at launch, at 32%. Grains, livestock, industrial and precious metals, and soft commodities also feature in the portfolio. The management team, which includes Nicholas Robin and Daniel Belchers, will have accessed to the same resources used on the Threadneedle Commodities Crescendo hedge fund, launched in 2008. The new fund targets outperformance of 6% and is benchmarked against the DJ UBS Co...