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F&C opens up citrine fund in hedge bid

F&C Alternative Investment is positioning itself as a provider of hedge funds to multi-managers with the opening of the F&C citrine fund to new business.

F&C citrine, a European long and short equity fund, is the third fund in the company’s range of single strategy hedge funds. It has a target return of 10-12 per cent a year and holds 40-80 long and short positions.

F&C seeded the fund with internal money in May 2004 but waited to build up a track record before opening it to investors, including funds of hedge funds.

Director of alternative investments Alex Ingham Clark says: “Citrine could fit neatly into a fund of hedge funds portfolio. This is a lower-risk fund which is never going to shoot the lights out but with a Sharpe ratio of 3.7 per cent, it provides a good return for the risk. Unusually, we have not laun-ched a plain vanilla hedge fund before. By that I mean long and short equity hedge funds which are usually the starting point.”


‘Tele-underwriting will take over from GP reports’

Legal & General senior operations manager Stuart Johnson believes that general practitioner reports could become a thing of the past as tele-underwriting becomes more widespread in the protection industry. Protection experts at a Money Marketing round table last week agreed that 70 per cent of GPRs do not change underwriting dec- isions and that advances […]

The need for knowledge

In today’s age of technology, there is a vast amount of information available to clients on the worldwide web. If the general consumer needs to get information on any financial product or service, they can do so at the touch of a button. This has in turn meant that access to financial products and information […]

FSA reopens self-cert case

The FSA is going back to investigate the self-certification mortgage market clearing the sector just two years ago after a probe by the BBC’s Money Programme claimed to uncover malpractice.

Greece: the sideshow continues

Artemis managers James Foster, Mark Page and Laurent Millet comment on the Greek deal, describing it as “just another fudge” getting in the way of bigger developments in China, the UK and the US. To read the full article click here.


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