Cazenove issues Guernsey-based fund of hedge funds

Cazenove Capital Management is to launch a Guernsey-based closed-ended fund of its hedge funds offering access to star manager Tim Russell and targeting a 10% pa return after fees. The vehicle, which will be Aim-listed and capped at £150m, is to provide equal exposure to two hedge funds run by Russell and one apiece from Cazenove managers Neil Pegrum, Chris Rice and Tim Love. Four of these are closed to new investors. The Cazenove Capital Absolute Trust will have a minimum entry of £1,000 and be eligible for Sipp investment as well as for Peps and Isas. As there will be no named manager...