GLOBAL/UK - AXA Investment Managers has opened up one of its hedge funds - the Asian Absolute Fund - to pension funds.
The fund had previously only been open to private clients.
The open-ended fund aims for returns of 15-20% per year by tapping into what it claims are “huge” inefficiencies in Asian markets.
Alternative investment strategies managing director Andrew Alexander - who is co-manager of the fund - pointed out that there are more than 27,000 securities in the Asia Pacific region, many of them under-researched.
Alexander said: “With our fundamental, research-based approach to company analysis and the ability to short over-valued stocks, we aim to deliver stable positive returns regardless of the direction of market movements.”
The fund is accepting minimum investments of US$5m (£3.4m).
By Simon Meek
Jonathan Stapleton asks whether newly-accredited professional trustees should be a statutory fixture on pension scheme boards.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.