Columbia Threadneedle is to launch a European equity long/short absolute return strategy managed by Paul Doyle and Fred Jeanmaire.
The Threadneedle Pan European Absolute Alpha Sicav will mimic the strategy used in its well-known UK and US counterparts.
Mr Doyle and Mr Jeanmaire will select between 40 and 80 long and short positions, aiming to return 3-month Euribor plus 6-8 per cent over a three-to-five-year period.
The fund will have an ongoing charges figure of 1.85 per cent plus a 20 per cent performance fee subject to a high water mark. Minimum investments are set at £2,000.
The managers currently run the £715m Threadneedle European Fund and the £76m Theadneedle Pan European focus fund respectively, with Mr Doyle also bringing absolute return experience from the Threadneedle European Crescendo fund.
