Cazenove Worldwide Absolute Return Fund changes managers
Tim Love and Joaquim Nogueira are to step down from the management of the Cazenove Absolute Return Fund and leave the company, by mutual agreement.
Love came to Cazenove Capital with a really interesting approach, model and philosophy for investing in both developed and emerging markets, which Cazenove decided to back.
However, the pattern of the returns the fund generates is very different in style to the rest of the Cazenove hedge fund stable. So Love and Nogueira are both leaving to create funds another company, better suited to taking on their investment approach.
CWARF has generated good returns for its investors in difficult markets (18.3 per cent to end December since launch in mid 2006). Indeed, the returns from the emerging element of the fund have been excellent.
Robin Griffiths is to take over the day to day management of the fund. For over 30 years Griffiths has been one of the most respected technical analysts of world stock markets, bonds, currencies and commodities. He became a technical analyst with WI Carr, based first in Hong Kong and then Tokyo before returning to London. During this time, he started to develop his own trading system, analysing stock and market trends. He was then chief technical strategist with HSBC for over 20 years. His most recent position was as head of asset allocation with Rathbones. CWARF will now be managed using Robin's work, an approach we believe the fund's shareholders will find profitable.
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