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Money managers under the microscope

Threadneedle readies “Triple A” launch

May 10, 2010

LibertyHedge fund firms are finding themselves back in demand with mainstream asset managers despite a mixed record during the downturn. Threadneedle recently reiterated its interest in acquiring a hedge fund firm whilst adding to its absolute return range with a US equity long/short fund. The rise in interest has also been apparent in F&C’s purchase of Thames River at the end of April and Aberdeen’s recent buy of RBS’s non-core assets which gave the fund manager access to alternative products.

Threadneedle has been on the prowl for something in the absolute return space since last summer, but Campbell Fleming, head of distribution, said the hedge funds business remains “a work in progress”. “We continue to look at a lot of opportunities but not many suitable businesses have presented themselves,” he told Reuters.

In the interim Threadneedle is launching the American Absolute Alpha fund on June 1st, which will be managed by Stephen Moore and his team. Fleming said the product is targeted at investors outside the US who “have seen that it has cost them money ignoring the resurgence of the US.” He added that another half dozen products were planned for the next six months.

You can read the full interview with Campbell Fleming here.

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