Total eclipse

If Robert Stirling can continue the first four months' performance of Threadneedle's Crescendo Credit Fund, the portfolio will easily eclipse its targeted 12% annual return target on its first birthday next March.

The $40m fund was up 8% net to the end of June, remaining within its volatility limits of 5.5%. In June, says Stirling, the portfolio was also up by nearly 3%.

Stirling pursues three main strategies in the fund he tags as having 'a pure credit focus' generally holding between 25 and

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