Threadneedle has launched its American 130/30 portfolio. American Extended Alpha has an initial charge of 3.75% and an annual management fee of 1.5%. An additional performance fee of 20% will be applied to returns above its benchmark, the Standard & Poor’s 500 index, subject to a high watermark. The minimum investment is £2,000. As reported in Fund Strategy on July 30, the fund is managed by Stephen Moore, who has run American equities for 10 years.