Threadneedle returns monies

Threadneedle Investment has turned back £120m to investors following the closure of its Crescendo UK long/ short fund, managed by Paul Findlay.

In March and April there was huge demand from investors wanting to put money into the fund so the decision was taken to close it at the end of April, according to Hitesh Bharkhda, hedge fund business manager at the group.

At that point there was £170m in the fund, and an additional £80m was wanted to bring it to a cap of £250m. Overwhelming demand from

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