Way Group launches Absolute Return Portfolio Fund
The Way Group has launched the Absolute Return Portfolio Fund, one of three new investment funds to use a new tiered performance fee structure.
Way Absolute Return Portfolio Fund follows the recently launched Way Freestyle Growth Portfolio Fund, and will be followed this month by the Way Asian Spice Portfolio Fund.
Manager Roderick Collins, founding member of Hasley Investment Management, will head up the fund.
It will invest in quoted hedge funds and investment trusts of hedge funds deploying a range of strategies as well as in some distributor status hedge funds and the growing range of absolute return funds available under Ucits III.
"The central concept of the fund is to offer a diversified portfolio of absolute return vehicles, which are not dependent on the market directional bets, which are the hallmark of long only equities," says Collins. "It is important not to rely on a single manager in the absolute return space but to employ a range of carefully selected managers, many of which will have non-correlated performance, in order to minimise portfolio volatility."
The charging structure for the fund – designed in part to reflect investor unease at fund management levies charged regardless of whether the fund has performed well or not – carries a tiered performance fee commencing at ten per cent for returns between five per cent and 15 per cent per annum. A fee of 20 per cent will be taken for growth over 15 per cent per annum.
A base annual management charge of 0.5 per cent applies to the institutional class where there is no trail commission payable to financial advisers. The retail class carries an additional charge of 0.5 per cent per annum which is paid out to servicing independent financial advisers as trail commission.
The fund is one of the growing stable of funds managed by a specialist external manager on behalf of Way Fund Managers.
“The launch of the Way Absolute Return Portfolio Fund continues our strategy of complementing our global portfolio style funds with a range of contemporary thematic funds which we believe to be relevant for the decade ahead,” says Way Group chairman Paul Wilcox.
“We have also recently launched Gold and Green Portfolio funds, which are performing exceptionally well, and the Absolute Return Portfolio Fund provides an equally compelling proposition for investors seeking steady positive ‘deposit beating’ returns.”
- Special Reports
- By Location
- Asian Hedge Funds
- BVI Hedge Fund Services
- Bermuda Hedge Fund Services
- Canada Hedge Fund Services
- Cayman Hedge Fund Services
- Channel Islands Stock Exchange
- Future of offshore funds
- Gibraltar Hedge Fund Services
- Guernsey Hedge Fund Services
- Hedge Funds in Germany
- Hong Kong Hedge Fund Services
- Ireland Hedge Fund Services
- Isle of Man Hedge Fund Services
- Jersey Hedge Fund Services
- Jersey Private Equity Services
- Latin American Hedge Funds
- London Hedge Fund Services
- Luxembourg Hedge Fund Services
- Malta Hedge Fund Services
- Middle East Hedge Fund Services
- Singapore Hedge Fund Services
- South African Hedge Fund Services
- Spanish Hedge Funds 2008
- Switzerland Hedge Funds
- US East Coast Hedge Fund Services
- US Hedge Fund Services
- By Subject
- Conference reports
Latest Special Report
- By Location
- How to set up a hedge fund