Following a turbulent few weeks, in which fund groups have either pulled or delayed launching funds, this week has seen some groups be more proactive. Earlier in the week UBS announced it was to launch a US Growth fund (see October 20 post). Now L&G has confirmed details of an absolute return fund it is launching next week.
The interesting thing about the L&G fund – the Diversified Absolute Return Trust – is that rather than largely use the stockpicking views of a fund manager, it will be entirely macroeconomic in its strategy.
Whether or not the funds receive significant inflows at present is questionable. But in two to three years’ time, funds launching at what may be close to the bottom of the marker, could well boast impressive track records.