Kames launches new AR fund as Snowden original nears capacity

Kames Capital is to launch a Global Absolute Return Bond fund for John McNeill, Sandra Holdsworth and Nick Chatters as its original offering faces capacity constraints.

Kames' existing Absolute Return Bond fund, managed by Stephen Snowden and Colin Finlayson, is facing capacity constraints after assets swelled from £145m in October 2013 to £1.2bn as of last month. The new Kames Absolute Return Global Bond fund is expected to launch in Q2. It will target an annual return of three month LIBOR plus 2.5% after fees, while aiming to remain uncorrelated to the underlying market. David Roberts (pictured), head of fixed income, said: "Although optimum fund size is difficult to identify definitively, we believe that if the [original] fund significantly exceed...