Threadneedle fund places currency in its crosshairs.

Investment Adviser, October, 2007

Byline: Local emerging markets debt fund will target currency appreciation, particularly in nations such as China

Local currency appreciation is to play a key role in Threadneedle's local emerging markets debt fund when it goes live next year.

The fund, which will be launched in the first quarter subject to regulatory approval, will be run by Richard House and Paul Murray-John, who already manage the group's AGBP98.5m Emerging Market Bond fund.

The new product will be benchmarked equally against two indices - the JPMorgan ELMI index and the JPMorgan Government Bond Emerging Markets index.

Mr House said the scope for local market debt had increased significantly. "Looking back a couple of years, the asset class has changed...

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