Kames Capital is to remove the performance fee on its Kames UK Equity Absolute Return fun, managed by David Griffiths and David Pringle, after reaching £100m in size.
The Investment Management Association (IMA) will rename the Absolute Return sector as the Targeted Absolute Return sector as it completes a long-awaited review of the space, Investment Week can reveal.
The IMA expects to announce the results of its Absolute Return sector review by the end of February.
The Investment Management Association (IMA) has criticised FSA proposals aiming to clarify the definition of absolute return funds, warning it risks putting UK-authorised funds at a disadvantage.
Today's censure of Capita Financial Managers (CFM) by the FSA is a damning indictment of the firm's failings - and a vindication of advisers' pleas.
Kames Capital's David Griffiths and David Pringle have removed their short position in UK food retail on the UK Equity Absolute Return fund, as the prospects for supermarkets like Tesco look more positive.
Financial planner Informed Choice has criticising the bulk of absolute return funds for charging unjustifiably high fees and lacking consistency of returns.