Threadneedle launches its first 130/30 fund

Led by US equities manager Stephen Moore, the American Extended Alpha fund is a traditional long-only North American equities portfolio, with 30% short exposure to unattractive stocks. This additional short position is offset by extra long positions in attractive companies, thereby raising the long exposure to about 130%. Threadneedle’s London-based North American equity desk manages $US9.9bn in hedge and long-only assets, with Moore controlling just over $US3bn. “With my fundamental approach to stock picking, I am focusing on companies that can sustain or increase free cash flow genera...