Friday, 31 October 2014
Last updated 10 hours ago
Apr 7 2011 | 9:57am ET
Aberdeen is hoping a new name and a stronger focus on total return will be a recipe for success for its £8m MM Multi Asset Growth fund which, as of next week, becomes the Aberdeen MM Diversified Alpha fund, a multi-asset portfolio of UCITS funds.
Over the past three years, the MM Multi Asset Growth fund has returned 20.86% versus 26.34% by the LCI Mixed Asset GBP index.
Aidan Kearney and Graham Duce will continue to manage the fund, which can now hold up to 100% in total return funds (previously, it had been able to invest 50% in directional-only funds and 50% in total-return vehicles).
In addition to the name change, the fund’s annual management charge has been trimmed from 1.5% to 1.25%.
Kearney chalks the changes up to the growth in absolute return funds (an estimated 71% of European hedge fund managers either manage or are planning to launch UCITS III funds) and the increased choice in the sector:
“The absolute return sector was not in existence when the fund launched three years ago, and there was a small library of funds available in this universe," he said. "But now there is a greater expanse of absolute return funds and a broadening out of the strategies available. With so many already on the market and yet more to follow, a multi-manager approach seems sensible for those intermediaries and investors without the time and skill set to filter down the universe."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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