L & G Investment Management
L & G Investment Management | Hedge Fund Notes
The following piece on L & G Investment Management is being published as part of our Hedge Fund Tracker Tool, our daily effort to track hedge funds in the industry.
L&G Investment Management is getting into the absolute return business with one of the U.K.’s first retail global macro funds.
The Diversified Absolute Return Trust can invest across regions and instruments. The UCITS III-compliant vehicle is L&G’s first retail absolute return product, the Financial Times reports.
The fund will be managed by David North, who has been running a global macro hedge fund for L&G since February. In addition to North, the new fund’s team includes seven members, among them GLG Partners veteran Ben Gill.
“Investors are looking for a degree of certainty of returns,” Ben Waterhouse, sales director at L&G, said. “Since the IMA created the absolute return sector, there has been an appreciation in the retail market for absolute return products.” Source