Threadneedle is planning to launch an OEIC version of Jim Cielinski's $315m Global Opportunities Bond fund later this year, in response to demand from clients.
The fund house is seeking Financial Conduct Authority approval for the move, and hopes to bring an onshore version of the Luxembourg-domiciled fund to the UK market in the second quarter. Run by the group's head of fixed income Cielinski, Global Opportunities Bond has performed well since the launch of the SICAV in 2011, but some potential investors are thought to have expressed a preference for an OEIC version of the product. A long/short portfolio that aims to produce a return of 4.5% above one-month dollar cash, before fees on a rolling 12-month basis, the fund takes an unconstrain...
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