Neuberger Berman has launched a multi-manager absolute return Ucits fund that invests in hedge funds.
The Neuberger Berman Absolute Return Multi-Strategy Fund targets absolute returns with a low market exposure through diversified allocations to hedge fund strategies.
Being a Ucits fund, it offers daily dealing, no performance fees, a capped total expense ratio, high levels of transparency and control of assets through the exclusive use of managed accounts.
Fred Ingham, co-portfolio manager for the new fund, says in the current environment of low bond yields and longer-term inflation risk, as well as uncertain equity valuations, hedge funds can offer a an attractive alternative.
Ingham says hedge funds also have the ability to benefit from rising rates, as well as from increasing dispersion in global equity markets.
Neuberger Berman is based in New York and launched a US-regulated version of the same strategy in May last year.
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