L&G Unveils Retail Global Macro Fund

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.”


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

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

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of