Lansdowne Wants U.K. Fund To Be Less British

Nov 8 2011 | 10:58am 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

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of