Cazenove to offer 10% total return fund for Russell

Cazenove is planning an open-ended absolute return vehicle under Tim Russell targeting an annualised...

Cazenove is planning an open-ended absolute return vehicle under Tim Russell targeting an annualised return of 10%, Investment Week understands. This will be among the first pure absolute return offerings in the market rather than a cash-plus vehicle and will invest solely in UK equities. It will draw on Russell’s hedge fund and long-only capabilities, using derivatives, swaps and other powers under Ucits III. Russell runs the UK Growth & Income fund in the UK All Companies sector and hedge funds UK Equity Absolute Return and Leveraged UK equity Absolute Return. Cazenove’s hedge fun...