Ardevora plans long-only global equity fund

Ardevora is to launch a long-only version of its successful Global Equity fund later this year, Investment Adviser can reveal.

The boutique, founded by ex-Liontrust duo Jeremy Lang and William Pattisson, launched a so-called ‘150/50’ global product in early 2011 alongside two UK funds. Since launch the fund has gained 29.8 per cent compared with an average return of 16.2 per cent from its IMA Global sector peer group.

Ian Lewis, who leads Ardevora’s institutional marketing and sales, said the new product would be launched as soon as the team can raise seed money, and it would initially target “high end” wealth managers and institutional investors as retail demand had focused more on the UK products.

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“We are just stripping out the short book from the Global Equity fund,” Mr Lewis said. “We’ve always been keen on not having too many funds and stretching the investment team too far.”