View more on these topics

Ignis to launch absolute return product for credit team

Ignis Asset Management has confirmed it is planning to launch an absolute return fund for head of credit Chris Bowie in the summer.

The intention to launch an absolute return bond fund was first revealed by Money Marketing in June last year.

Bowie, alongside 15 members of the credit team, will manage Ignis’ new absolute return credit fund, the second product in the absolute return range. Ignis already has the absolute return government bond fund.

Bowie says: “We have been running our absolute return credit strategy on a shadow basis for approximately a year with a great deal of success. We believe the timing of the launch is now pertinent given the headwinds facing traditional long only credit investment.”

He adds: “Eurozone weakness, low bank creditworthiness, poor economic data and inflationary pressures are real concerns, and at the very least we are forecasting a prolonged period of volatility for credit markets.

“Given this backdrop I, and other members of the team, will be personally investing in the fund from launch.”

The new fund will be a pure alpha, best ideas, absolute return credit fund and will focus on investment-grade and high yield credit by means of liquid credit default swaps.

It will have a minimum investment of £1,000 and an annual management charge of 0.5 per cent on both share classes.



Kim North: Education, education, education

It is no surprise that almost half of UK life and pension customers are not prepared to pay for advice, according to Ernst & Young. When looking for a new product, 59 per cent of the 1,000 people surveyed said they would use an online comparison website while only 36 per cent would go and […]

Swip real estate director to retire

Scottish Widows Investment Partnership director of real estate Malcolm Naish has announced plans to take early retirement. Naish joined the group in late 2007 and is described by Swip as having been instrumental in growing the real estate business to more than £4.9bn in assets under management. He will step down from the position at […]


MPs to write to Mark Hoban over Equitable Life

The All-party Parliamentary group for Equitable Life policyholders is preparing to write to Treasury financial secretary Mark Hoban raising concerns over the progress of compensation and the accuracy of advice being given by the Government body handling the payouts. The Treasury says the vast majority of individual policyholders due a payment will have received it […]

Mark Page: why my biggest overweight stock is a discount Spanish retailer

Artemis European Opportunities Fund manager Mark Page is questioned about the merits of investing in Spanish supermarket group, Dia. Dia is a 7,000-store Spanish discount supermarket chain. But with cheaper food prices coming on to the market and an improving Spanish economy, journalist Alexis Xydias questions Mark about its inclusion in the Artemis European Opportunities […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment