L&G to launch multi-asset, absolute return fund

L&G Investment Management is launching a multi-asset absolute return fund to be run by head of asset ...

L&G Investment Management is launching a multi-asset absolute return fund to be run by head of asset allocation David North. The fund will come to the market on 10 November and use Ucits III tools to gain long and short exposure to global asset classes. Diversified Absolute Return Trust (Dart) has been run on a paper-traded basis by North and deputy manager Ben Gill and has returned 7.5% since December. L&G has been hiring economists and strategists to carry out due diligence for the portfolio construction and the managers will use exchange-traded derivatives on money market rates, glo...