Ignis rolls out its Absolute Return Bond in Europe
From Products Jan 3 2012 BY: Simon Danaher
, Online News Editor
, International Adviser
Ignis Asset Management is registering its Absolute Return Government Bond Fund for sale across Europe – starting with Spain, where the fund was registered last month.
The fund, a Luxembourg-domiciled Ucits III compliant Sicav, was launched in the UK on 13 March, 2011. By 13 Dec, 2011, it had assets under management of €115m ($150m) and by 19 Dec had returned 5.7% from launch, according to FE Analytics.
The UK-based asset manager said that, as well as Spain, it plans to reg¬ister the fund for sale in Italy, Austria, Germany, Switzerland and France during 2012.
Managed by the company’s head of rates, Russ Oxley, and chief economist Stuart Thomson, the fund invests primarily in government bonds, but also takes long and short positions in money market instruments and derivatives. Foreign currency exposure is limited to 25%.
“We know Spanish investors are frustrated by the poor performance of absolute return funds in general,” said Mauro Loran, regional director, Iberia and Latin America, at Ignis.