Threadneedle has launched an Absolute Emerging Market Macro fund for head of emerging market debt Richard House.
The Ucits III fund will target a positive absolute return of between 7.5% and 12.5% per year over a long-term horizon and will look to capitalise on attractive macro opportunities in global emerging markets bonds.
House, who also lead manages the Threadneedle Emerging Currencies Crescendo Hedge fund will be supported on the unconstrained Luxembourg–domiciled Newcits fund by co-manager Agnes Belaisch.
Belaisch, who is head of Threadneedle’s emerging market strategy, previously spent 10 years at the International Monetary Fund (IMF) as a senior economist.
House has 15 years experience in emerging markets investment and has run hedge fund assets for the last three years.
He said: ‘The new Threadneedle Absolute Emerging Market Macro fund allows us to exploit the many macro based opportunities that exist across the Emerging Market universe without the constraints of any index.
‘Within the fund, we have the flexibility to express our highest conviction macro views via sovereign credit, rates and FX, both on an absolute and relative basis.'
House added: ‘Using processes and resources that we have successfully employed over the years in our Emerging Currencies Crescendo Hedge Fund, we aim to deliver absolute returns to a broader range of investors under Ucits III.’