Liquidity risk is something corporate bond investors have learned all about in the past two years but Irish fund group Bloxham sees it as a problem in equity markets too.
The group is launching a global absolute return fund, set up under Ucits III, with a target return of 8-10% pa. Run by its director of investment strategy Kevin McConnell, the portfolio can go up to 100% cash if he cannot see trading opportunities. The Bloxham Midas Global Absolute Return fund aims to be a market neutral product with the ability to go long and short, and targets a return of about one third of global equities. What is this fund trying to achieve? The Bloxham Midas Global Absolute Return fund is designed really to perform in the very difficult market conditions we a...
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