Allianz Global Investors is seeking to convert its £58.1 million U.K. Growth fund in to the U.K. Absolute Return fund, Financial Times reports. The new fund aims to achieve returns greater than cash or bonds but with less volatility than equities.
The absolute return portfolio, which will be launched later in 2011, will be made up of a strategic long portfolio and a market neutral fund. It will be managed by RCM’s CIO for U.K. equities, Jeremy Thomas.
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