Man Group, the world’s largest listed hedge fund firm, announced last Thursday that it is to launch a hedge fund product aimed at the British domestic market.
The hedge fund of funds is to open at the end of the month and is being targeted specifically at UK-based investors who must invest a minimum of £10,000.
The firm has revealed that the new fund will invest in a capital guaranteed bond issued by the Royal Bank of Scotland ensuring initial investment is protected. The fund is aiming for absolute returns of between 13% and 15% per annum.
"The market is addressing the fact that the culture of equity is like having only one egg in the basket. We need assets that can diversify portfolios," commented managing director of Close Fund Management Marc Gordon, according to Reuters.
Man Group’s most recent hedge fund launch, the Man RMF Multi-Style fund, raised a company record of $805 million, the firm announced earlier this month.
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