BMO GAM expands absolute return range with long/short fund

Volatility target of 6%

BMO Global Asset Management has expanded its 'True Styles' absolute return range with a new vehicle to sit alongside its Global Equity Market Neutral fund.

BMO GAM said the launch was a response to consumer demand following the success of the £214m Global Equity Market Neutral OEIC, launched in July 2015.  Managed by Erik Rubingh and Chris Childs (pictured), the existing fund has returned 7% over six months to 22 April according to FE, versus losses of 0.2% from its IA Targeted Absolute Return fund. The new fund, BMO Global Equity Market Neutral, is a SICAV rather than an OEIC; it will be run by the same management team and has a volatility target of 6% rather than the 10% target of the existing fund. Spring chickens: A closer look at...