James Hay adds Cazenove UK absolute target fund to wrap

The addition brings the total number of funds available on the wrap to 1,373 funds from 59 different providers.

James Hay says the Cazenove UK absolute target fund launched four months ago, has little correlation to the market and adopts a neutral stance with an equal number of long and short positions.

The fund has returned 3.2 per cent since launch and has received an A rating from Old Broad Street Research.

James Hay head of funds Chris Smeaton says: “We are committed to ensuring that investors of all types have access to a wide ranging source of funds.

“IFAs need to be able to fully satisfy their clients needs and we are keen to ensure that they have access to a truly ‘whole of market’ proposition.”