Kames Capital is planning to expand its absolute return fund range by launching two new absolute return funds in November this year.
The new funds namely the Kames Equity Market Neutral Fund and the Kames Equity Market Neutral Plus Fund will be run by David Griffiths and David Pringle alongside Malcolm McPartlin.
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The new Dublin-registered funds will complement the firm’s existing range that includes Kames Absolute Return Bond Fund and the Kames UK Equity Absolute Return Fund.
The Kames Equity Market Neutral Fund will target a return of cash plus 4%, in all market conditions, over a 36 month rolling term and will typically hold 50 to 100 equity asset positions, while the Neutral Plus Fund will target return of cash plus 8% in all market conditions over the same time frame.
Subject to regulatory approval, both new funds will be available in sterling, Swiss franc, euro and US dollar share classes.
Kames said the funds will be registered for sale in the UK, Austria, Belgium, Germany, Channel Islands, Ireland, Malta, Spain and Switzerland.
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By GlobalDataStephen Jones, CIO of Kames, said: "We are seeing some real traction within our existing absolute return strategies as investors appreciate our genuine market neutral returns and these investors and our European clients are now asking for us to replicate these strategies but with the potential for greater returns on their capital."
