Threadneedle launches European absolute return fund
Threadneedle Investments has launched its European Absolute Alpha fund investing in pan-European equities, and managed by Paul Doyle.
Threadneedle currently manages about €1.6bn across a number of absolute return strategies.
The European Absolute Alpha portfolio will primarily take long and short positions in European equities, and will aim to generate the majority of performance from stock selection.
Paul Doyle joined Threadneedle in 1995 and has over 20 years’ experience in European equities, including as manager of the Threadneedle Apex European fund.
He said: “Despite the negative news flow surrounding Europe recently, we believe that it is an exciting time to look at European equities as we are able to find many companies at compelling valuations. The opportunity to deliver absolute returns through fundamental and valuation analysis with high conviction long and short positions is considerable.”
The new fund has been approved by the CSSF (Commission de Surveillance du Secteur Financier) for public offer in Luxembourg. Approval is pending in other jurisdictions.