Ignis soft launches regional 130/30 portfolios

Ignis has soft launched two 130/30 funds investing in American and Asian equities. The vehicles were seeded with Ignis money and will be launched to the wider market after a track record has been built.

Ignis International North American Equity 130/30 was soft launched last June. The Dublin-domiciled fund is run by Terry Ewing and Alison Porter, who also manage the group’s long-only offering, American Growth.

The fund has been seeded with £2m of internal money and has taken only slightly more than this since launch because it has not been actively marketed, the group says.

The Asia Pacific (ex Japan) 130/30 fund is an offshore growth portfolio managed by Andrea McNee, the head of Asia Pacific, and Diamond Lee, a fund manager. It, too, was seeded with £2m of internal assets and has not yet been given any external money. The Asian vehicle will not be marketed for at least a year to give it a chance to gain a performance track record.

The funds follow the launch in November 2007 of the UK Equity 130/30 mandate run by Cartesian, one of Ignis’s four joint venture boutiques. The American and Asian funds are being managed along similar lines to the British vehicle.