Launches & Closures Wrappers / Structures

Threadneedle to shut UK Crescendo fund, launch new UCITS version


Threadneedle has announced plans to launch a UCITS III-compliant UK long/short equity fund, and to shut down its Cayman-domiciled version, the once high-performing Threadneedle UK Crescendo Fund.

The Threadneedle UK Absolute Alpha Fund is expected to debut early in the fourth quarter, and will apply the same investment strategy as the UK Crescendo Fund. It will be run by the same portfolio managers, Mark Westwood and Chris Kinder.

The new fund is a response to client appetite for a UK absolute alpha product in the UCITS format, and also anticipates reforms to the way investment products can be distributed in