Threadneedle extends Luxembourg Sicav range with US manager

Threadneedle Investments has launched the Threadneedle (Lux) US Contrarian Core Equities Fund in its Luxembourg SICAV range.

The fund will be managed by Guy Pope, managing director and senior portfolio manager at Columbia Management, an asset management subsidiary of Ameriprise Financial.

The fund has been registered with the CSSF in Luxembourg and the AFM in the Netherlands and registration is pending in other jurisdictions.

The fund will be managed with the same approach as the $1.6bn Columbia Management Contrarian Core Fund which seeks out of favour income and growth stocks.

Pope will use a proprietary screening method to find large cap US stocks which are in the bottom third of their 52-week price range.

According to Pope, this fund is “all about pessimism”.

“We are looking for those companies that have fallen out of favour due to undue pessimism about their future. By taking a bottom-up approach to finding these stocks we can identify those unfavoured companies with the best upside potential in order to generate alpha for clients,” he added.

By joining the Threadneedle Luxembourg Sicav range the strategy, which Pope has been running for seven years, will be accessible for investors in Europe, the UK and Asia.

Columbia Management is a US asset manager focusing on long-term mutual fund assets and has $362bn under management. Columbia Management is a subsidiary of Ameriprise Financial which also owns Threadneedle.

Threadneedle is a US diversified financial services company with $670bn in total assets.

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