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Man creates first sterling hedge fund of funds

Man Investment Products has unveiled Man Greenwood multi-strategy GB, its first sterling-denominated fund of hedge funds.

The fund is based in Bermuda and is designed specifically for the UK market. It aims to generate equity style returns with the type of risk associated with bonds.

A range of hedge funds from different managers who employ different strategies will be used to produce returns of between 11 and 12 per cent a year, without the volatility of equities. Long and short selling is the most popular strategy. Fund managers buy shares they think will go up in price and sell those they think will go down, with a view to buying them back when the value has fallen. Other strategies include relative value, mergers & reorganisation and distressed securities.

To build up its profile in the UK, Man Investments has formed an alliance with Canada Life. Man Glenwood multi-strategy GB will be available as part of Canada Life’s optimising wealth management opportunities programme. It will also be available directly from Man Investments.

This product may appeal to institutional investors, self-invested personal pension investors and high-net-worth investors who are comfortable with high risks in return for potentially higher rewards. However, some investors may prefer the structure of Man Investment’s capital guaranteed hedge funds of funds because their original capital is not at risk.


Criticism of changes to tables

The FSA&#39s league tables should be changed to illustrate the differences in costs between going to an IFA and other distribution channels according to review chief Ron Sandler.The league tables, which have been pilloried in the past for their over-reliance on charges, would effectively be split showing two prices one for IFAs and one for […]

ABN and Framlington come to agreement

Star managers George Luckraft and Nigel Thomas will start work for Framlington in September after coming to an out of court agreement with former employer ABN Amro.The settlement comes just days before a court hearing, which was scheduled for July 15 after ABN took action following the decision by the managers to join Framlington around […]

Independent View

When I was asked to write this article for Money Marketing, I sat there and thought, what do I write about that has not already been written about our industry in the last 12 months? In other words, how do I make this positive rather than the negative garbage that we have been put through […]

Delay to FRS17 &#39is not reprieve for final salary&#39

MX Financial Solutions is warning that the postponed implementation of accounting standard FRS17 will only ease the pressure on occupational pensions and not remove it.Full adoption of the controversial accounting rule, which requires companies to include pension liabilities on their balance sheets, has been delayed until 2005.MX Financial fears this will not stop the closure […]

Large-cap growth alpha thesis: seeking risk-adjusted excess returns

Content supplied by Loomis, Sayles & Company — an affiliate of Natixis Global Asset Management For mutual fund investors and managers of large pensions or endowments, a major challenge is to identify those portfolio managers who are most likely to deliver superior risk-adjusted returns in the future. Understanding how an investment philosophy informs a manager’s decision […]


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