St James’s Place is starting a unit trust version of its long/short U.K. Absolute Return fund, Fund Strategy reports. The U.K. wealth manager’s new vehicle will be launched in the ABI unclassified sector.
Mark Lyttleton and Nick Osborne, who run the BlackRock U.K. Absolute Alpha fund, will manage the £107 million St James’s Place U.K. Absolute Return -Life fund. The benchmark on the long/short equity life fund is three-month Sterling Libor. Click here for the story from Fund Strategy.