Threadneedle expands SICAV range

Threadneedle has added two new specialist equity funds to its SICAV range: the Threadneedle (Lux) Global Technology Fund, and the Threadneedle (Lux) US Communications and Information Fund (as of 12 March 2010).

Both funds will be transferred from Seligman, Threadneedle's US based sister company, owned by Ameriprise.  The funds will continue to be sub-advised by Seligman.

The Threadneedle (Lux) Global Technology Fund, managed by Richard Parower, seeks to achieve capital appreciation by focusing on companies in the technology and technology related industries globally.  The Threadneedle (Lux) Communications and Information Fund, managed by Paul Wick, seeks to achieve capital growth by mainly investing in US companies of any size operating in all aspects of the communications, information and related industries.

Campbell Fleming, Head of Distribution at Threadneedle says: "We believe in offering our clients a full range of investment strategies.  With excellent track records and low volatility, these two new funds will be a great addition to our SICAV range.  The funds will provide investors with competitive results in a variety of conditions over several broad market cycles.  Threadneedle's SICAV range provides in-house investment expertise, complemented by portfolios managed by highly regarded sub-advisers."

Paul Wick, Managing Director of Seligman, says:  "We are bringing together Seligman's specialist expertise with Threadneedle's strong market presence.  This is an exciting time for us and we look forward to making these products available for Threadneedle clients."

Technology companies typically generate high levels of cash. This is important for product development, strategic acquisitions and sustaining dividends. The balance sheets and cash flows in the technology sector still appear healthier than many other areas.  Historically, technology companies have driven growth with less debt than many other industries and produce robust returns during market recoveries. After the past two market bottoms in 1990 and 2002, technology stocks rallied and sustained double-digit returns for several years.

Threadneedle believe that this sector is currently better positioned for continued growth than many other sectors in the economy and this type of dynamic change makes technology more attractive over the long term.