Tuesday, 29 July 2014
Last updated 1 hour ago
Oct 24 2008 | 10:32am ET
L&G Investment Management is getting into the absolute return business with one of the U.K.’s first retail global macro funds.
The Diversified Absolute Return Trust can invest across regions and instruments. The UCITS III-compliant vehicle is L&G’s first retail absolute return product, the Financial Times reports.
The fund will be managed by David North, who has been running a global macro hedge fund for L&G since February. In addition to North, the new fund’s team includes seven members, among them GLG Partners veteran Ben Gill.
“Investors are looking for a degree of certainty of returns,” Ben Waterhouse, sales director at L&G, said. “Since the IMA created the absolute return sector, there has been an appreciation in the retail market for absolute return products.”
“It’s designed to complement and supplement and perhaps even replace equity exposure a client might have,” North, the portfolio manager, said. “The risk budget we have is two-thirds that of an equity product, but we’re moving away from relative performance.”
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…