Absolute Return

Simon Ellis, managing director of Legal & General Investments, outlines his views on the future of categorising absolute return funds.

CONTRARIAN

Aviva Investors is shutting its Absolute Tactical Asset Allocation fund range on 11 July as a result of sub-scale net asset value.

A number of fund providers are supporting the split of the Absolute Return sector into sub-categories based on strategy, which could see many vehicles in the Unclassified and Specialist sectors moved into the new groupings.

SWIP's James Clunie has said he is shorting Unilever in the belief the market is "very complacent" over the stock's resilience.

Since its creation in 2008, the absolute return sector has been a bone of contention for intermediaries.

MAM Funds has renamed Martin Gray and James Sullivan's CF Miton Arcturus fund and is preparing to move it into the IMA's Absolute Return sector.

Ian Heslop, manager of the Old Mutual Global Equity Absolute Return fund, explains why investors in volatile markets should focus on avoiding the lows, even if it means missing the highs.

ABSOLUTE RETURNS

BlackRock's absolute return manager Mark Lyttleton is taking an extended break from the industry for family reasons.