Distinction converts Cautious Return into multi-manager fund

Distinction Asset Management has converted its Cautious Return fund into a multi-manager absolute return portfolio, managed by Armstrong Investment Managers.

The £29m fund, abbreviated to D-CAR, is Dublin-domiciled and structured as UCITS III. Underlying managers include M&G’s Richard Woolnough, Investec’s emerging market debt specialist Peter Eerdmans, and Franklin Templeton’s Michael Hasenstab. The portfolio targets long-term absolute returns of 2% above cash every year through a combined stock selection and macro focused investment style. Ana Armstrong, fund manager and chairman of Distinction, said: “We have designed the investment approach of this fund to take advantage of opportunities across different regions, currencies, types o...