Nearly three-and-a-half years after closing its UK Bear fund, Govett decided to relaunch the product...
Nearly three-and-a-half years after closing its UK Bear fund, Govett decided to relaunch the product, designed to produce performance that is the mirror image of that achieved by the FTSE 100. The portfolio was managed by Conrad Preece, who ran the £40m US Bear fund and was also manager of the former UK Bear fund, which closed in October 1999 at £3.8m. The product operates by buying and selling futures on the FTSE 100, essentially shorting the market when money is invested into the fund.
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