Bloxham is launching a global absolute return fund that will target a minimum return of 8 to 10 per cent per annum.
The Bloxham Midas global absolute return fund will hold between 25 to 40 long and short positions. The low to medium risk Ucits III fund will make use of Bloxham’s proprietary technical analysis model Midas, which makes a daily report of over 2,000 stocks and sectors globally.
The defensive nature of the fund will see the average cash position of 35 per cent.
The fund will launch in October and will be managed by a team of four headed up by Kevin McConnell, who is also director of investment strategy at Bloxham.
He says: “The fund uses a variety of indicators and unbiased decision making to determine what to invest in globally. The use of cash further ensures the fund will offer low volatility.”
The annual management charge on the retail share class will be 1.5 per cent. The group has not introduced an initial charge on the fund.
A performance fee of 10 per cent has been introduced on the fund over its set hurdle rate.