Threadneedle Investments has launched a Multi Asset Target Alpha fund to be managed by its head of multi-asset allocation Toby Nangle.
Nangle previously helped oversee over $5 billion at Baring Asset Management before being appointed by Threadneedle over a year ago.
The Threadneedle (Lux) Multi Asset Target Alpha fund will be the first fund allocated to Nangle at the London-based firm and will be co-managed by Matthew Cobon, who currently overseas three Threadneedle absolute and target return strategies.
The fund will invest globally across traditional asset classes such as equities, bonds and currencies as well as gaining exposure to commodities, property and other assets. It will also be able to make use of short selling and leverage.
'Core government bond yields are now so low that there just isn’t enough room for them to fall to offer downside protection to a classic 60% equity 40% bond asset allocation. Portfolios need now to be managed more holistically,' said Nangle.
'The Multi Asset Target Alpha Fund will combine Threadneedle’s macro and micro views across asset classes to take full advantage of market inefficiencies with the aim of generating superior risk-adjusted returns.'