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Threadneedle sets up defensive Fofs

Threadneedle is offering two defensive funds of funds in a move which will see the firm&#39s existing managed funds renamed to reflect their higher risk.

The defensive equity & bond fund will invest 25 per cent in equities and 75 per cent in bonds while the defensive bond fund will invest entirely in fixed interest.

Both funds will be managed by head of bond strategy Laurence Mutkin. Initial charges on both funds are 3.75 per cent. Annual charges on both are 0.25 per cent in addition to standard underlying fund charges.

The funds will have the lowest risk of Threadneedle&#39s five actively managed products so it is changing the name of its existing funds to reflect the new funds&#39 position in the range.

Its cautious managed fund will now become the equity and bond fund, the balanced managed fund will become the global equity and bond fund and the adventurous fund will become the global equity fund.

Chief investment officer Sarah Arkle says: “Advisers now have a greater choice of risk-rated funds and can move clients from 100 per cent in equities to 100 per cent in fixed interest, depending on their needs.”


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