Kames Capital, a UK-based investment manager, has unveiled two absolute return bond funds following the closure of its Kames Absolute Return Bond fund in February 2015.
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The two funds namely the Kames Absolute Return Bond Global fund and Kames Absolute Return Bond Constrained fund are domiciled in Ireland and aim to generate low risk positive absolute returns over a rolling three-year period in all market conditions.
The global fund will be denominated in sterling and the constrained fund denominated in euros.
Co-managed by John McNeill, Sandra Holdsworth, Nicholas Chatters and Paul Dilworth, the Global fund will outperform the three-month GBP Libor index by 2.5% a year net of fees.
The Constrained fund, which will be managed by John McNeill and James Lynch and supported by Paul Dilworth, aims to outperform one-month Euribor by 1% a year, net of fees.
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By GlobalDataBoth the funds currently manage less than £50m each and follow a similar investment strategy to the Return Bond fund.
Kames Capital CIO Stephen Jones said: "These latest additions to our growing absolute return franchise are aimed at the low risk end of both the professional retail and institutional markets, where investors are looking for positive returns regardless of the market conditions.
"In response to client demand, we have launched these new funds that share many similarities with the Kames Absolute Return Bond fund."
