Threadneedle to add sixth fund to Crescendo

Threadneedle is to add a sixth hedge fund to its Crescendo range, this time focusing on emerging markets. The Threadneedle Emerging Markets Opportunities Crescendo fund will be managed by Paul Murray-John, head of emerging market debt. He will be assisted by Henry Stipp, an economist at the group. The fund will target returns of 10%-12% and focus on credit, government bonds and currencies. The duo have run Crescendo using in-house money, returning 11.5% (gross) since May 2005.