Thames River has delayed the launch of its Global Emerging Markets (GEM) Absolute Return fund until next year.
The boutique, bought by F&C this year, had drummed up considerable support for the fund, which was to be managed by Kristof Bulkai and Hugo Rogers. But last week, it wrote to IFAs to say it has pushed back the launch to 2011 as the managers have now landed a separate fund management mandate.
Thames had secured Irish regulatory approval for the Dublin-based fund, designed to be one of the first retail funds to use sophisticated techniques to target gains from emerging markets regardless of market conditions. (article continues below)
Jason Hollands, the head of communications at F&C, says: “We did some test marketing on a product. It is something that is still likely to happen.”
Managers Bulkai and Rogers launched a Water and Agriculture Absolute Return fund in February 2009 that reports a 20% gain since.