Cazenove reopens Absolute UK Dynamic fund

The Cazenove Absolute UK Dynamic fund will reopen to new subscribers today for the first time in 16 months.

The fund, managed by Paul Marriage, closed within a week of its September 2009 launch date after attracting £123m in subscriptions.

Citing a period of solid fund performance and the appointment of John Warren to the UK equity team to replace outgoing manager Neil Pegrum, Cazenove is reopening the fund with £60m additional capacity. (article continues below)

Marriage says the fund has grown 5.5% since its launch and that it is back on track to achieve a target of 10% per year.