Tuesday, 23 September 2014
Last updated 2 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.”
Sep 22 2014 | 4:15pm ET
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Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.