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Columbia Threadneedle unveils US fund for quant chief

Columbia Threadneedle unveils US fund for quant chief

Columbia Threadneedle has stepped up its quant-backed investment efforts by making its $4 billion systematic-led US large-cap fund available to European investors.

Following the move the Threadneedle (Lux) US Disciplined Core Equities fund will be added to its Luxembourg SICAV. It mirrors the existing strategy for US investors, which was launched in 2003.

As with the long-running US fund, the new launch will be overseen by Columbia Threadneedle’s head of quantitative strategies, Brian Condon, as well as portfolio manager Peter Albanese.

It will target outperformance of 150 basis points (gross of fees) over the S&P 500 annualised over a three- to five-year period. The Threadneedle (Lux) US Disciplined Core Equities fund will run with a tracking error of 2-4%.

The long-only fund will hold around 80 stocks and aims to generate returns through stock selection while avoiding sector risks by building a sector-neutral portfolio. Condon and Albanese can add discretionary investments where appropriate.

Condon and his 10-strong team, which work from Boston, currently manage more than $18 billion in assets.

Initially registered in Luxembourg, the fund is intended for distribution across other markets. These include: Austria, Belgium, Finland, France, Germany, Italy, the Netherlands, Norway, Portugal, Spain, Sweden and Switzerland. Regulatory approval is pending in all countries.

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