Threadneedle plans two UK value funds

Threadneedle Property Investment is talking to investors about launching two follow-on UK value funds.

The fund manager wants to raise capital for Strategic Fund V, a value-added fund aimed at capitalising on buying opportunities in the UK, where values are falling in many markets.

Strategic Fund IV attracted around £300m of equity in 2009, including about £70m from Barclays Wealth clients, and raised debt with Eurohypo and RBS.

The second new launch would be a follow-on to a core – plus UK fund Threadneedle set up with Citi Private Bank.

Threadneedle, led by Don Jordison, has a following among investors for getting its market timing right. It was one of the first managers to start investing again in 2008.

In that year, Threadneedle took over Protego’s (now Cornerstone’s) UK Property Fund, merging it with its own property unit trust. Last November, the manager took over the £470m portfolio of LVAM, the former Liverpool Victoria Insurance Group.

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