Sunday, 19 April 2015
Last updated 10 hours 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.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…