High yield hedge fund aims for 10% pa

three former investec managers unveil their first offering, a macro fixed interest fund

Ex-Investec fund managers Paul Brain, Andrew Seaman and Mark Johns have launched their first hedge portfolio, a macro fixed interest fund, aiming to achieve returns of more than 10% a year. The fixed interest team left Investec Guinness Flight in January this year, where they ran some £1bn in fixed interest assets in the group's offshore bond fund range. Brain was lead manager of the Investec GF Sterling Bond fund as well as the dollar-denominated High Income portfolio at the group. The relatively unrestricted mandate of the dollar fund has formed the rationale behind the hedge portf...