Eclectica plans retail absolute return offering for Hendry

Eclectica plans to create a daily dealing absolute return product for the retail market, utilising founder Hugh Hendry's decade-long track record in the space, Investment Week understands.

Subject to regulatory approval, the group will convert its existing $5m Global Opportunities fund in the early autumn into a broader asset allocation vehicle. If approved, the vehicle will be re-branded as the Eclectica Absolute fund. Hendry will be the lead manager, but the portfolio will benefit from ideas, input and investment strategies from across the group’s entire manager pool. Currently sitting in the IMA Global Growth sector, the CF Eclectica Global Opportunities fund is up 1.2% over three months to 24 August; while the vehicle is down 8.0% over one year, according to Morn...