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Ignis prepares absolute return government bond fund

Ignis Asset Management is preparing the launch of its Ignis absolute return government Bond fund, scheduled for the end of March.

Russ Oxley, the head of rates, and Stuart Thomson, the chief economist, will manage the fund. They will invest primarily in developed market sovereign bonds and AAA supranational bonds.

In addition, Oxley and Thomson can take long and short positions in money market instruments and derivatives. Their foreign currency exposure will be limited to 25 per cent.

The Luxembourg-domiciled Ucits III Sicav will target net returns of 2 per cent to 3 per cent per year in excess of cash; it will aim to keep volatility low and the portfolio diversified.

The rates team at Ignis uses a method that breaks down developed country government yield curves into discrete forward. This approach allows the managers to target specific forward rates and enables them to exploit pricing anomalies more accurately, through long and short positions.



Lloyds bank powers to £2.2bn profit

Lloyds Banking Group’s decision to stop writing new payment protection insurance business cost it £70m last year. But the bank saw a return to profit in 2010 at £2.2bn on a combined businesses basis after a £6.3bn loss in 2009. It lent £30bn in gross mortgage lending and £49bn in gross lending to UK businesses, […]

Aegon Asset Management is to introduce a multi-asset fund aiming for an annual return of 10 per cent over a three-year period.

Aegon Asset Management is to introduce a multi-asset fund aiming for an annual return of 10 per cent over a three-year period. The strategic assets fund will launch on March 1 and will com- prise predominantly long- only investments, principally in equities and fixed income. The fund will be placed in the IMA cautious managed […]


FSA sends out network business model warning

The FSA has warned that the network model presents a potentially growing risk of consumer detriment due to weaknesses with systems and controls and pressure on income. In its first Retail Conduct Risk Outlook, published today, the FSA says networks are under pressure financially, and warns that there are issues with networks’ oversight of members. […]


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