Insight vote on total return fund

insight diversified target return fund managers want to give up right to buy into hedge funds

Insight is to revamp its total return multi-manager fund to make it easier to get the product onto life office platforms. The group is writing to shareholders in the Diversified Target Return (DTR) Oeic asking them to approve the changes which it stressed should not affect the ability of the fund to produce cash plus returns for investors. These alterations would see fund managers Ana Cukic-Munro and Patrick Armstrong give up the right to use funds of hedge funds within the portfolio, relying instead on buying holdings in a number of absolute return funds launched in the last year. To ma...