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By Marc Shoffman | Published Jul 31, 2012

Ignis launches Absolute Return Credit fund

The fund is managed by Chris Bowie, head of credit, and his 14-strong team, and is seeded with nearly £20m.

Mr Bowie said the fund targeted volatility of 2 per cent to 6 per cent and invests in investment grade and high yield credit through credit default swaps.

He said: “We have chosen to launch the fund at this time given the many headwinds building for traditional long-only credit investment.

“Following a strong and protracted bull market for credit I believe we are now facing a prolonged period of volatility, minimal economic growth in the near term and a possible correction for credit markets in the not too distant future.”

Claude Chene, director and global head of distribution, said: “We forecast a prolonged period of volatility and believe investors will increasingly look to genuine market neutral credit alpha products to complement their more traditional beta funds.

“The fund, alongside our existing Corporate Bond fund, means we now offer products to suit both requirements.”

The fund has an annual management charge of 0.5 per cent and a 10 per cent performance fee.

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