Blacksquare Capital, an alternative asset management firm, has launched the IFSL Blacksquare Multi-Manager Absolute Return Fund.
The fund aims to deliver positive absolute returns which are uncorrelated to equity and bond markets.
The fund provides daily dealing and the two week launch period begins on 4 January 2010.
The fund is one of the first regulated Ucits compliant multi-manager investment products to be launched in the UK, investing in a portfolio of regulated Ucits absolute return funds and money market instruments.
Managed by Richard Sherwin, portfolio manager, the fund will launch with approximately 15 absolute return funds and will have exposure to multiple asset classes such as stocks, bonds, currencies and commodities.
Madilean Coen, partner at Blacksquare Capital, says: “The time is ripe to launch a Ucits compliant multi-manager absolute return fund, owing to a growing need to provide investors with diversification within the absolute return sector and perform due diligence on the wide range of new funds entering the market.
“Investors increasingly want exposure to regulated absolute return products that offer diversification across asset classes, provide daily liquidity and are tax efficient. We believe that the launch of the IFSL Blacksquare Multi-Manager Absolute Return Fund will complement our range of products and will be extremely attractive to intermediaries and their clients.”
