Cazenove Reopens Year-Old U.K. Absolute Fund

Jan 5 2011 | 11:25am ET

Investors eager to put their money in the hands of Cazenove Capital Management’s Paul Marriage have that opportunity once again.

The London-based hedge fund firm reopened Marriage’s Absolute U.K. Dynamic Fund to new subscriptions. The fund has once been open to new investors for about a week of its 15-month life, closing after it raised £123 million in September 2009.

The move to reopen the fund comes after its rebound from early performance struggles and the hiring of a new member of Cazenove’s U.K. equity team, John Warren. The fund will close again after raising another £60 million.

“We firmly believe the Cazenove Absolute U.K. Dynamic Fund is back on track to achieve the target of the fund in delivering 10% plus per annum, over the market term, from a fairly concentrated small- and mid-cap portfolio with less volatility that the U.K. stock market,” Marriage told the Financial Times.

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