UK -- Threadneedle Asset Management is to launch its Threadneedle Global Crescendo Fund towards the end of the first quarter of next year.

The fund, a fifth addition to its Crescendo range of hedge funds, will be run by Jeremy Podger and will aim to deliver an absolute return in excess of 10% per annum, net of fees, with low single-digit volatility, Threadneedle says.

It will be managed as a long/short equity fund, on a global sector basis, with regional weightings being a secondary consideration.

Commenting on the performance of other Crescendo funds Lorin Gresser, head of alternative business, says that the European fund has shown a more than 38% return in euro terms since its launch in 2000.

“The UK fund returned 52% in sterling terms since its launch in 2001, the Credit fund has generated over 23% in euros and in the six months since we brought Mike Corcell’s American Crescendo Fund to the market it has delivered a net return in excess of 10%,” she added.

Meanwhile, Insight Investment has launched two new sterling-denominated cash funds.

Both its Liquidity Plus Sterling Fund, which will focus on capital and income stability by investing in short-term fixed income and variable rate securities, and the Short Duration Bond Fund, which will invest primarily in fixed income securities aiming for a return in excess of the benchmark, have an AAAf rating from Standard & Poor’s, Insight said in a statement.

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