Lansdowne To Drop 'UK' From Flagship

Feb 22 2012 | 3:31am ET

Having ceased to be a U.K.-focused hedge fund in all but name last year, Lansdowne Partners is rechristening its flagship offering.

For more than 10 years, the US$7.5 billion vehicle has been the UK Equity Fund. But last year, Lansdowne abandoned a provision that required half of the fund's assets to be invested in the U.K. Now, it's dropping the UK from the name.

Beginning in April, Lansdowne's flagship will be known as the Developed Markets Fund. Investors have already approved the changes, which allow the fund to put up to 10% of its assets into emerging markets.

Managers Peter Davies and Stuart Roden have no plans to do so just yet, Reuters reports.

In November, Davies and Roden explained the change.

"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," they wrote to clients.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

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

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.