Collins Stewart to launch fund of absolute return funds

Collins Stewart is planning to launch a fund of absolute return funds by the end of this year.

Subject to regulatory approval, the UCIT III compliant fund will sit within the firm's Dublin-domiciled Collins Stewart Investment Funds umbrella and will be managed by Richard Hodgetts, current manager of its Absolute Return Plus fund. The firm's head of UK fund sales, Mike Brown, says with the expansion of the Absolute Return sector to encompass a decent number of funds it will be possible to launch a sufficiently diversified portfolio. "With the universe having now grown we feel this is a good opportunity for us to make an early entry into this market and for us to apply the proces...