Hedge fund specialist Leon Diamond is set to launch a new multi-asset fund, looking to bring institutional pricing to a UK retail audience.
Mr Diamond founded his current firm Mansard Capital following stints at Castlestone Management and Folkes Asset Management.
His new fund, Principal Asset Allocation, will be a risk-targeted multi-asset fund that will have elements of active investment, passive investment and even smart beta within its strategy.
He describes his investment strategy as “a dynamic allocation methodology, constructed using academic research to maximise risk-adjusted returns for investors”.
The fund, scheduled for launch by the end of November, will have a total expense ratio of 0.65 per cent.
Mr Diamond said he could keep costs low by “bringing institutional dealing into the marketplace”.
He explained that, instead of buying an exchange-traded fund or a tracker, he could get access to the FTSE 100 index for as little as 1 basis point using derivatives such as “swaps or futures”.
The fund will be targeted towards the adviser market, where there is increasing demand for risk-controlled multi-asset solutions.
Mr Diamond said it should be on Aegon, Skandia and Ascentric platforms at launch but he was looking to roll it out into the wider market.