absolute return funds are not created equal
In the short time we have been back following the festive hiatus there has been a muted but audible buzz in the air about the Absolute Return Sector. Why is this and is it about to turn into a foghorn?
In the short time we have been back following the festive hiatus there has been a muted but audible buzz in the air about the Absolute Return Sector. Why is this and is it about to turn into a foghorn?
Baring Asset Management has bowed out of the Absolute Return space by merging Colin Harte’s Absolute Return Global Bond Trust into Andrew Cole’s Multi-Asset Fund.
Absolute Return UK funds bounced back into favour in November with net retail sales of £164m for the sector as a whole, which put it second only to the Cautious Managed Sector.
In the latest in a number of attempts to create a definition of its Managed Sectors that is useful for all the various user groups – fund managers, intermediaries and Joe Public – the IMA emphasised that funds should comply with the spirit of the definition.
Discretionary investment manager Whitefoord LLP has changed the name of its Absolute Return Fund to the CF Cautela Fund, as its manager took a pop at the Absolute Return sector.
Pimco has launched a credit-based absolute return fund to be run by Mark Kiesel.
The spate of new absolute return fixed income propositions comes at a time when both absolute and fixed income strategies are out of favour with retail inverstors.
James Carver, formerly of Aberdeen Asset Management, will be investment director of the group’s absolute return bond funds.
BlackRock has launched its first absolute return fixed income proposition that will be run by Ian Winship.
Two firsts for Kames Capital as it launches the Kames Absolute Return Bond Fund
Dalton Strategic Partnership has closed the Melchior Selected Trust European Absolute Return Fund.
GLG has added a retail version of its European long/short, market neutral strategy.