View more on these topics

Blacksquare increases volatility on defensive fund

Blacksquare has made several changes to its Acumen defensive portfolio, formerly the IFSL Blacksquare multi-manager absolute return fund, to produce higher returns with volatility closer to its maximum target of 4 per cent a year.

The portfolio, which is up about 0.55 per cent in the year to date, had recently been trading with volatility of about 3 per cent. This was to preserve capital but Blacksquare felt there was scope to increase this to enhance returns.

It has sold out of long/short equity fund FCM European opportunities, foreign exchange fund Neuberger Berman diversified and systematic fund Fulcrum alternative beta plus. Three long/short equity funds – CF Odey UK absolute return, Investec enhanced natural resources and Old Mutual global equity absolute return – were added to the portfolio alongside a long/short credit fund, Absolute Insight credit. The new additions are not new to Blacksquare, having been held in the IFSL Blacksquare multi-manager diversified fund.

Blacksquare chief executive Christopher Peel says: ” We have been impressed with these managers during their time in the diversified fund and believe they will improve the risk/return profile of the portfolio.”

The IFL Blacksquare multi-manager diversified fund is now closed to new investment as multi-manager is repositioning its product range.



PIMS: Firms say FSA is unsure over role of platforms

Axa and Seven Investment Management say the FSA is confused over whether platforms are service providers or product providers. Speaking at the PIMS conference yesterday, Axa managing director of UK distributors David Thompson said the regulator seems to be undecided about what kind of businesses platforms operate. Thompson said: “It seems like the FSA cannot […]


Trio in plea to Clarke for MoJ to crack down on claim firms

Which?, and the British Bankers’ Association have written to Justice Secretary Ken Clarke calling for tougher regulation of claim management companies. CMCs have been criticised for charging clients up to a third of their compensation payouts when consumers can submit their own claims to the Financial Ombudsman Service for free. The letter, sent this […]


MM Leader: D2C and the RDR

F&C became the latest asset manager to declare its RDR intentions this week, predicting growth in both self-directed sales and multi-manager. It is fair to say no one really knows the extent to which the RDR will ultimately reshape the retail landscape – ask 10 different experts and get 10 different answers, often coloured by […]


Concept says HMRC is singling out Guernsey over Qrops move

Guernsey Qrops provider Concept Group says HM Revenue & Customs is singling out the jurisdiction after it published a rule that led to over 300 of the island’s Qrops being cut from its list of registered schemes. In April, Guernsey lawmakers introduced new rules to address HMRC concerns that Qrops treated residents and non-residents differently […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm