European Products

April 2009

Gartmore has launched its UK Absolute Return Fund, the latest in its absolute return range. The latest offering follows Gartmore’s MultiManager Absolute Return and Gartmore European Absolute Return Funds. The firm hopes to capitalise on the UCITS III parameters, and that the fund will deliver a positive absolute return over the long-term, regardless of market conditions.

A Strategic Assets Fund is to be launched by Artemis, to be managed by William Littlewood. The fund will offer a multi-asset mix of investment opportunities, including equities, bonds, commodities and currencies in long and short positions. It will also offer investments in cash. The fund aims to beat cash and the FTSE All-Share index over a three-year cycle, and investors can expect the fund to be long of equities in bull markets, but defensively positioned in cash and other complimentary instruments in bear markets.

Emerging markets investment manager Ashmore Investment Management Limited has launched its Global Consolidation and Recovery Fund, established with the investment objective of maximising the recovery value of less liquid or other financial assets in emerging markets. Investors will be provided with a vehicle to contribute some or all of their existing holdings of such assets. The fund is Guernsey-domiciled, and will open quarterly to further subscriptions once launched.

Zurich has launched its Guaranteed Capital Account 23, the latest in its series of guaranteed capital accounts. It runs for five and a half years, and offers intermediaries and their clients the potential to benefit from growth in the FTSE100 index. Clients’ original capital investment is protected. Applications must be received by 5 June 2009. The series is provided by Dunbar Bank, and allows investment throughout the year.

Ashmore Investment Management Limited has launched the Ashmore Global Consolidation and Recovery Fund, established with the investment objective of maximising the recovery value of less liquid or other financial assets in emerging markets. Financial institutions will be able to contribute some or all of their existing holdings of such assets, and new capital will be offered the opportunity to take advantage of the resultant investment opportunities. Guernsey-domiciled, the fund will open quarterly for further subscriptions once launched. The lifespan will be of at least five years, and redemptions will be available after the third and fourth anniversaries with applicable redemption charges.

BlackRock has launched the new BlackRock European Absolute Alpha Fund, using a similar investment model to BlackRock’s successful UK Absolute Alpha Fund. The new fund aims to deliver positive returns across all market conditions by investing in equities and equity related securities across Europe. The fund will be managed by Vincent Devlin, senior portfolio manager.

Award-winning specialist structured investment boutique Blue Sky Asset Management has launched a new income plan which provides annual income potential of six per cent over five years, with a unique ‘capital protection and fixed income activation’ feature which can remove any market risk to capital or income during the investment term in contrast to direct stock market investment, investment funds and many other structured investment products. The new income plan provides investors with a high reliable income potential at a time when the need for income solutions has never been greater. BSAM says the plan will provide a highly innovate solution for investors seeking income.

HSBC Global Assessment Management is to launch its Global Currency Fund, aimed at institutional investors. The fund aims to exploit the currency market inefficiencies and imbalances. The team has operated a similar foreign exchange strategy for HSBC since 2004. Bill Maldonado, head of Alternative Investments at Halbis, the active management specialist within HSBC Global Asset Management, said the fund introduces a systematically managed multi-strategy approach with a discretionary overlay, with a view to direct allocations to those sub-strategies providing the best returns.

First State Investments is launching a Latin American Fund which will add to its specialist product range, targeted at UK and European wholesale and institutional inventors. The fund will still employ the same bottom-up stock-picking approach, with its focus on quality companies, which underpins First State’s successful Asia Pacific and Global Emerging Markets range of funds. First State Latin American Fund will be managed by Jonathon Asante and Milar Mathieson, who are emerging market specialists. Alan Nesbit will act as deputy fund manager.

T. Rowe Price has expanded their global offerings by introducing a Global Large Cap Equity Strategy, to be available to investors via a segregated account and T. Rowe Price’s Luxemburg-domiciled SICAV range. The objective is to seek long-term growth, which will be done by investing in common stocks of larger, established companies whose market capitalization, at the time of purchase, falls within or above the range covered by the MSCI All Country World Large Cap Index.

Standard Life Investments has announced the launch of a European Equity income fund, which is set to harness the proven stock picking skills of the Standard Life Investments European equity team, this fund aims to provide the investors with a yield of 115 per cent of that of the FTSE Europe ex UK pound Index, together with potential that some capital appreciation over the longer term. The fund will be managed by Will James, and will invest pre-dominantly in high yielding European equities with further potential for some exposure to convertibles, fixed interest and cash.