UK - Threadneedle Investments has added a fixed income hedge fund to its Crescendo product line-up.
The Crescendo Credit Fund will be run by a team of bond managers led by Threadneedle’s head of fixed income Robert Stirling, and it will invest in a combination of investment grade, high yield and emerging markets bonds, as well as derivatives.
The fund was launched with approximately £12.5m of seed capital, and the minimum investment is US$250,000 (£155,800).
Separately, Threadneedle’s total institutional business figures for 2002 have revealed mandate wins of over £1.3bn.
The fund manager recorded 43 new appointments from a variety of clients including its first mandate for a UK local authority – Bath and north-east Somerset.
It also won a UK equity mandate for Frank Russell’s multi-manager product, and the Marks & Spencer DC Plan.
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.