They've got the powers

Target return and absolute return offerings are becoming an important feature of the fund landscape - increasingly so, in fact, as providers get to grips with the new powers bestowed by the Ucits III legislation. As with any fund peer group, the mandates vary in nature and, although the return aspirations may look similar from one fund to another, the underlying investments can be very different. Some funds are restricted to fixed income asset classes and cash, while others allocate assets to areas such as equities, property, other absolute return funds (including hedge funds), commodities...