Edinburgh-based investment manager Martin Currie has announced improvements to its ten-strong Absolute Return Funds range that will take effect from 2 March, including a reduction in th
Edinburgh-based investment manager Martin Currie has announced improvements to its ten-strong Absolute Return Funds range that will take effect from 2 March, including a reduction in the initial minimum investment on all funds from USD1m to USD250,000.
The redemption notice period will reduce from 90 to 30 days on the Global Energy and Global Financials funds. The same redemption period will apply to the UK fund, which is renamed the Equity Market Neutral Fund.
A sterling share class on which UK distributor status will be sought will also be introduced for the Equity Market Neutral and Global Resources funds. Both these share classes will be listed on the Irish Stock Exchange on 3 March.
"There’s been a trend in recent months for many absolute return funds to impose redemption restrictions on investors,’ says Toby Hogbin, head of product development at Martin Currie (pictured).
‘Our capacity and liquidity framework has allowed us to maintain our terms for our clients through this crisis and given us the ability to enhance liquidity terms for three of our funds by reducing notice periods for redemptions. We believe this and the other improvements reflect the current needs of investors and open up new avenues of interest in the sector.’
