GLG Partners has confirmed the launch of the GLG Total Return fund to be managed by the macro and relative value (Marv) team.
The firm had revealed its intention to launch the fund when it poached James Ind from Russell Investments earlier this year.
Mr Ind will be responsible for the ongoing portfolio management on the fund, though the Marv team is headed up by Jamil Baz and Sudi Mariappa.
The UK-domiciled Ucits fund is available to investors as of today with an annual management charge of 0.75 per cent and no performance fee.
Through a “value-driven investment approach” within a strict risk framework, the fund will aim to deliver a return of 5 per cent above Libor in rolling three-year periods.