Gartmore has launched a new UK equity hedge fund to be managed by Ashley Willing and Simon King.
The AlphaGen Avior fund will open on November 1, and will be the fifth hedge fund in Gartmores AlphaGen range.
The fund has been formed under Caymen Islands law, and will be listed on the Irish stock exchange. It has Sterling, US Dollar and Euro share classes, with minimum investments of £75,000, $100,000 and 100,000 euros. It will aim to achieve an absolute annual return of between 15 and 20 per cent.