Threadneedle prepares first limited issue fund

Threadneedle is in the process of launching the UK's first limited issue fund, to be managed by Mark Holden of its UK high alpha team. It will be the first fund to take advantage of the altered UK regulations allowing groups to offer a semi-closed vehicle and recognise cash as an investment. The as-yet unnamed fund will be limited to £100m in size and run as a highly concentrated best ideas portfolio, with the ability to invest up to 100% in cash and 10% in a single stock. While it will have wide powers on liquidity, it is unlikely to go above 50% in cash, according to Threadneedle....