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May 30, 2014updated 04 Apr 2017 2:14pm

Kames Capital unveils new absolute return bond fund in Spain

Kames Capital has launched a new absolute return bond fund in Spain.

By Verdict Staff

Kames Capital has launched a new absolute return bond fund in Spain.

The Dublin-domiciled fund will be run by Stephen Snowden and Colin Finlayson.

The fund has been designed to provide investors with a low risk absolutely positive return over a three year period.

The absolute return fund will invest in global debt instruments in any currency, including AAA government bonds as well as high yield and emerging market bonds.

Additionally, it will also invest in all types of fixed and floating rate fixed income securities without any geographic limitations on its investments.

With a total size of £325 million, the fund will use financial derivative instruments to manage a long/short strategy, and has no performance fee. It has been registered for sale in Switzerland, Austria, Germany, Netherlands, Belgium and Malta.

The fund will have a minimum initial investment of £500 and AMC of 0.65%.

Kames head of retail distribution, Steve Kenny, said: "The fund’s main objective is to be a real alternative to cash deposits by providing investors with steady capital growth above and beyond the rate available from most banks, whilst limiting market risk."Spain is a fast evolving and important market to us at Kames and we believe the registration of this fund will prove popular with savvy investors looking for a real alternative to cash," he added.

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