Old Mutual Asset Managers (Omam) has dropped its plans to launch a retail version of its U.K. equity hedge fund, Fundweb reports. The U.K. investment manager was planning to launch the U.K. Specialist Absolute Return fund, which was to be run in the same way as its U.K. specialist equity hedge fund.

The group has decided to focus on the hedge fund, which is managed by Ashton Bradbury and domiciled in the Cayman Islands. Separately, Omam plans to name a replacement for Stephen Snowden, the outgoing manager of its corporate bond fund.

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