Aegon launches UK Equity Absolute Return fund

AEGON Asset Management has launched its first absolute return fund to be run by its UK equity team.

The UK Equity Absolute Return fund is managed by David Griffiths and David Pringle, who will be supported by the 12-strong UK equity team headed by Stephen Adams. As previously reported in Investment Week, the fund will consist of three portfolios; long equity, short equity and cash. The size of the long and short portfolios will vary according to the manager's discretion but will typically not exceed a 10% net long or short position. The vehicle will hold between 50 and 100 stock positions and will be constructed using contracts-for-difference, which are a means of gaining long and s...