The £836m Absolute Insight UK Equity Market Neutral fund is revamping its investment policy to switch from a UK-centric to a global investment focus.
The fund, which sits in the IMA Targeted Absolute Return sector, currently invests largely in UK equities, with international stocks making up a maximum 20% of the fund. However, Insight is seeking to change the mandate to give the fund greater global exposure. In a letter to shareholders, seen by Investment Week, the group's head of client services Mark Stancombe said: "Subject to shareholder approval, the directors of the fund plan to change the fund's investment policy to remove this geographic limitation." "This will give the fund managers additional flexibility to invest ou...
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