Northern UK high alpha launch

Northern Trust is to bring out a UK high alpha fund of managers and seed it with in-house money. The portfolio is due for launch in the first half of 2003 and is designed to appeal to consultants who allocate client funds to core and satellite mandates. Tony Earnshaw, managing director of multi-manager products, said the portfolio will contain a concentrated number of managers. 'There will be a smaller mix than usual, just two managers, which will help to get higher alpha,' he added. 'If there are more managers, there is a danger of spreading too thinly.' Earnshaw believes that for...