Lansdowne Wants U.K. Fund To Be Less British

Nov 8 2011 | 9:58am ET

Lansdowne Partners has decided it's too much trouble to invest half of its U.K. Equity Fund in the U.K.

The London-based hedge fund told investors in the vehicle that, in honor of its 10th anniversary, it would do away with a provision that requires half of the fund's assets to be invested in the U.K.

"The U.K.'s position as a magnet for globally relevant companies has clearly diminished in recent years leading to an excessive bias towards commodity-based sectors," fund managers Peter Davies and Stuart Roden explained. "Meanwhile, we should stress that our bias towards emerging market growth remains strongly embedded in our thinking notwithstanding our desire to invest in it through developed market companies."

Davies and Roden called the 50% U.K. requirement "overly restrictive." The two proposed a 90% gross exposure to developed markets, instead, Financial News reports.

Despite the proposed changes, Lansdowne does not appear to plan a less-British name for the fund.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of