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Just seven out of 55 Trustnet absolute funds given AAA

Only seven of the 55 funds in Trustnet’s absolute return sector have been given an AAA rating.

Trustnet has introduced ratings for all funds in its absolute return sector. Of the 55 funds, seven attained a triple A rating and 16 received no rating at all.

The company includes any fund that follows an absolute return approach, regardless of which sector it is in, although it gives managers the opportunity to distance themselves from the sector except if they have total or absolute return in its objective or fund name.

Funds with triple A ratings include BlackRock UK absolute alpha, CF Ruffer absolute return and JPM cautious total return while funds with only a single A rating include New Star diversified absolute return and Cazenove multi-manager diversity.

The ratings are based on discrete positive periods, correlation and whether the fund is worth having in terms of producing greater performance than cash.


Caught on the opt

I read something the other day about the auto-enrolment of 10 million employees into pension saving in 2012. You probably already know the plot of this future horror story by heart. Ten million employees who currently do not receive a pension contribution from their employer will be swept into voluntary pension saving by legislation. The pension saving will be voluntary in the sense that if they do not want to save in a pension, they will be allowed to opt out of auto-enrolment.

Former Lehman chief in boutique start-up

Former Lehman Brothers head of structured retail products Adam Habib has started a boutique investment company which will offer mutual funds, structured products and hedge funds.


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