S&P upgrades Threadneedle American Extended Alpha fund
Stephen Moore’s Threadneedle American Extended Alpha fund has been upgraded by Standard & Poor’s (S&P) Fund Insights.
The £250.2m fund has been given an S&P AA rating after the agency praised the portfolio’s performance, team approach and “consistently applied” investment strategy.
According to the most recent factsheet, the portfolio has returned 7.6% over the year to December 31, ahead of the IMA North America peer group’s loss of 1.7%. Since inception in October 2007, it has returned 39.9% compared with the peer group’s 12.1%.
“Moore is clearly a central figure in this team and takes an active role in debating thematic and top-down issues which form part of the team process,” according to S&P.
“Moore takes considerable input from the rest of the team in terms of stock recommendations, with some of the team also charged with generating ideas on the short side.”
The reports also highlights the “swift action” that was taken last year to replace two departing members of Moore’s team.
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