Artemis to launch UCITS version of Steer's hedge fund

Artemis is planning to launch a UCITS version of Tim Steer and Paul Casson's Pan European Hedge fund strategy later this year.

The Pan European Absolute Return fund, managed by Steer (pictured) and Casson, is planned for launch in Q3 2014, initially for sterling investors. The fund's retail sterling share class will have an AMC of 1.5%, while the institutional share class will have an AMC of 0.75%. A performance fee will be applied, subject to a high watermark. Steer has run Artemis' Cayman Islands-domiciled hedge fund strategy since 2009. The fund, which initially had a UK-only remit, was broadened out to its existing pan-European format in April 2013 when Casson joined the group from Henderson. The st...