Blacksquare Capital and Investment Fund Services Limited have launched the IFSL Blacksquare Multi-Manager Absolute Return Fund of Funds, which will start trading on 1 February 2010.
The fund’s objective is to deliver positive absolute returns which are uncorrelated to stock and bond markets throughout all market conditions.
The target portfolio will have an exposure to a range of funds which combine different trading strategies and trade throughout global stock, bond, currency and commodity markets.
It will include managers such as Blackrock, Bluecrest, Brevan Howard, Gartmore, JP Morgan and Threadneedle.
Madilean Coen, partner at Blacksquare Capital, says: “The IFSL Blacksquare Multi-Manager Absolute Return Fund is the next generation of absolute return multi-manager investment products providing greater liquidity (daily), tax efficiency (CGT), transparency and regulatory oversight than traditional offshore funds of hedge funds. It is also designed to appeal to investors seeking an absolute return multi-manager product in the form of a regulated UK Oeic and especially those holders of closed ended investment companies linked to offshore fund of hedge funds which have disappointed investors in the past.”
Returns are only subject to capital gains tax rather than the higher level of income tax.
Minimum initial investment is GBP1,000 for retail shares and GBP100,000 for institutional shares.
The share classes are GBP, with EUR and USD to follow shortly.
Richard Sherwin is the fund portfolio manager and also has responsibility for investment research at Blacksquare Capital.
The fund is available for purchase on the following retail platforms: Ascentric, Axa Elevate, Hargreaves Lansdown, James Hay, Transact and Cofunds Institutional.
