The fund, which will seek to mirror the holdings of the existing UK domiciled (non-UCITS) Absolute Insight Fund, launched with €90m (£72.01m) of client seed money from six countries across Europe.
Matt Oomen, head of Europe, Middle East and Africa intermediary distribution at BNY Mellon, said: “There is a clear and present demand for absolute return products particularly as they give investment managers even greater flexibility to deliver positive returns.”
Key features
Managed by Insight Investment’s equity, fixed income and multi-asset teams
Global multi-strategy UCITS fund invested across a range of absolute return strategies
Each underlying strategy is actively managed on an absolute return basis targeting a positive return with low correlation to equity markets
Distributed throughout Europe by BNY Mellon
Offered with retail and institutional share classes denominated in Euro, US Dollar, Sterling and Swiss Francs.
Adviser verdict
Michael Basi, managing director of Essex-based Basi & Basi Financial Planning, said: “We would judge all funds on performance. There are some absolute return funds in our portfolio but I am fairly agnostic on it as a strategy. For us, asset allocation is more important, along with risk profile and performance.”
