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Ignis looks to bolster in-house fund range

Ignis Asset Management is considering launching a credit version of its absolute return fund, a global emerging market debt fund and global and emerging market equity funds with growth strategies.

The firm, which last month cut its stake in joint venture Argonaut, plans to focus on its in-house fund range but IFAs have voiced concerns about underperformance of its funds.

Ignis recently said it is looking to launch a strategic bond fund. The firm has three fixedincome products, including the £261.1m corporate bond, £67.5m absolute return government bond and £34.8m highincome funds.

Head of credit Chris Bowie says: “Ideally, we would like to have two products, an alpha and a beta product. The strategic bond fund will be a beta product that generates market risk and uses asset allocation. For the alpha product, I would hope to launch a credit version of the absolute return fund. It would be a corporate bond with a long/short strategy that aims to have no market risk.”

Ignis has a £176.1m emerging markets select value fund and a £37.6m global growth fund.

A spokesman says: “We probably need to have a global emerging market debt fund and equity funds in the global and emerging markets area that have a growth strategy.”

Skerritt Consultants head of investment Andrew Merricks says: “If Ignis cannot get good results from its current range, how will the investment community trust an expanded range? Ignis should focus on improving its current funds.”


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