LAUNCHPAD: Investments

Launched with €15m (£12.13m), the unconstrained fund is open to outside investment and has income and accumulation share classes for retail and institutional investors.

With low annualised volatility at less than 4 per cent, the UCITS will attract an SRRI risk rating of three. The fund has UK reporting status and offers an additional RDR-compliant clean share class for UK investors.

Key features

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– 1.25 per cent management fee for income and accumulation share classes

– 0.75 per cent fee for institutional investors

– Transparency: full position disclosure plus access to latest research

– Classes: €, £, SEK (income and accumulation share classes), RDR clean share class (UK)

– Minimum investment : €/£1,000,000 (institutional), €/£5,000 SEK45,000 (retail)

Adviser verdict

David Penny, managing director of Taunton-based Invest Southwest, said: “We steer clear of absolute return funds because they are predominantly a marketing gimmick to attract nervous clients. Any financial adviser worth their salt will have an in-depth discussion with their client about the nature of risk and reward and benefit of an asset-allocated portfolio. All investments aim never to lose money, of course.”