Artemis is plotting the launch of a Pan European Absolute Return fund later this year, to be run by Tim Steer and Paul Casson.
The launch is subject to regulatory approval and will be a Ucits-compliant fund based on a Cayman Islands-domiciled hedge fund run by Mr Steer since 2009. The hedge fund was initially invested purely in UK equities, but the hire of Mr Casson in 2013 saw it expand its remit.
The group said it planned to launch the new product in the third quarter of 2014 with sterling share classes. The clean fee share class is to be priced at 0.75 per cent and a performance fee will apply.
