Cazenove’s newest launch, the Absolute UK Dynamic fund, has raised almost £100m and the group is now planning to restrict further flows into the fund.
It launched yesterday but has already seen a level of subscriptions in excess of expectations, Cazenove says.
Absolute UK Dynamic is managed by Neil Pegrum and Paul Marriage. It aims to deliver a return of 10% or more annually over the medium term.
Robin Minter-Kemp, the managing director of investment funds, says prior to the launch the group had intended to review the vehicle’s capacity when it reached £100m, because of its small- and mid-cap bias. Arrangements are now being made to restrict new applications to the fund, Minter-Kemp says.