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Alternative Market Briefing

Long-only and fund of funds UK manager Ignis AM launches new absolute return strategy

Thursday, October 10, 2013

Benedicte Gravrand, Opalesque Geneva:

Ignis Asset Management has just launched its latest absolute return strategy, the Ignis Global Macro Government Bond Fund, with £25m ($40m) seed money.

Registered in Luxembourg as a Specialised Investment Fund (SIF), this hedge fund is suitable for eligible institutional investors only.

Ignis, the British-based fund management unit of insurer Phoenix Group, runs long-only fixed income, equity, real estate funds as well as funds of funds (including funds of hedge funds) mainly for the retail sector, and has around £66.9bn ($106.6bn) in total assets under management.

The new Global Macro fund is a new internally run hedge fund and it is a non-UCITS version of the £1.5bn UCITS compliant Ignis Absolute Return Government Bond Fund. The latter, which is up 2.48% YTD, has delivered a total return of 18.5% and an annualized return of 7% with a standard deviation of 3.3% since its 31 March 2011 launch.

According to Ignis’ announcement, the Global Macro fund will translate macroeconomic views into carefully diversified long and short positions, predominantly in the most liquid government bonds and currencies. Underlying investments will be split in......................

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