Hendry to launch absolute return fund on 31 December

Hugh Hendry's Eclectica will launch its new absolute return fund on 31 December.

The Eclectica Absolute Macro fund will be a Ucits III mirror of Hendry's renowned global macro hedge fund, targeting an annualised 10% return over cash on a rolling three-year basis. It will invest in long and short global equities, global fixed income, commodity ETFs and currencies. Since its launch in September 2002, Hendry's Eclectica hedge fund has returned 115.9%, more than 108% over the rise for the MSCI World. "It is my contention that the market has been ill-served by an endless array of relative funds that ask investors to pay - often high fees - for virtually passive mark...