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Contact details

12 Upper Grosvenor Street, London, W1K 2ND
020 7208 1400 (Dealing)
020 7208 1401 (Fax Number)

Fund managers

* James Hanbury11-May-2009 to Present
* Jamie Grimston»01-Nov-2010 to Present

Investment objectives

The investment objective of the Fund is to achieve a positive absolute return over a 12 month period independent of market conditions. Capital is at risk and there is no guarantee that a positive return will be delivered over any one or a number of 12 month periods. The Fund will seek to achieve its investment objective by investing in or taking exposures (using both long and synthetic short positions) to a range of asset classes worldwide. The Fund may therefore invest in any, or all, of the following: equities and equity related securities (including OTC derivatives), fixed and/or floating rate debt securities issued by governments and/or corporate entities, closed ended funds, collective investment scheme, derivatives, forward foreign exchanges contracts, currencies and cash and cash equivalents.

Key Information

Fund vs sector

  1y 3y
Position 20 / 60 1 / 49
Quartile 2 1

Fund ratings

FE Crown Rating: 4 FE Crown Rating


  1y 3y
Volatility 9.20 10.15
Alpha -4.04 13.49
Beta 3.31 2.94
Sharpe 0.32 2.32
Info Ratio 0.39 2.50
R2 0.52 0.42
Quartiles:   1  2  3  4   help with ratios
vs. Targeted Absolute Return»
performance chart
ACC +4.1+108.5+145.1+42.9+40.2+3.3+13.8
  TARGETED ABSOLUTE RETURN   +2.7+12.7+16.6+6.2+3.4-0.6+4.1
Clean share class
   Bid OfferDateYieldOCF help CiticodeSEDOL
pdf CF ODEY ABSOLUTE RETURN HEDGED INST ACC EUR ACC 1.77 (EUR) 22-Dec-2014 0.00 0.93% 0P30 B3SX1S6
pdf CF ODEY ABSOLUTE RETURN INST GBP ACC 305.61 (p) 22-Dec-2014 0.00 0.93% FBB2 B55NGS8
pdf CF ODEY ABSOLUTE RETURN INST ACC USD ACC 1.63 (USD) 22-Dec-2014 0.00 0.93% GQ7H B3Z00X8
Other share classes
   Bid OfferDateYieldOCF help CiticodeSEDOL
pdf CF ODEY ABSOLUTE RETURN RET GBP ACC 297.05 (p) 22-Dec-2014 0.00 1.43% FBB1 B55NGR7

The Ongoing Charges Figure (OCF) shows the drag on performance caused by operational expenses associated with a fund.

Expenses which are represented by this figure include payments to the manager, the trustee the custodian and their representatives. The figure also includes registration, regulatory, audit and legal fees, and the costs of distribution.

Performance fees, transaction costs, interest on borrowing, costs associated with derivatives, entry and exit fees and soft commissions are not included in the OCF calculation, and should be factored in separately by the investor.

The OCF is calculated by taking the sum of these expenses incurred in the last 12 months and dividing this by the average net assets of that class for the last 12 months.

Total Expense Ratio (TER) is a formula designed to show the ongoing costs to the investor associated with a fund, including some charges which are not factored into the annual management fee. In addition the fund’s annual fee, charges such as trading fees, audit and legal fees, and operational expenses are included in the TER, which is worked out by dividing the total cost of the fund by its total assets to arrive at a percentage.

Unlike the Ongoing Charges Figure, the TER takes into account performance fees. It does not include transaction costs paid to the custodian.

Detailed fund information
Fund type flag UK Open Ended Investment Company (OEIC)
Own ISA wrapper Fund has ISA Wrapper help with ratios Fund size£957.3m / $1,494.8m (28-Nov-14)
Savings plan Fund has Savings Plan Minimum: £ 100.0 Monthly Launch11-May-2009
Pricing times10:00 Daily Dealing frequencyDaily
Dealing timesn/a
Minimum initial£ 5,000
Minimum additionaln/a
Initial charge4.00%
Annual management charge1.25%
Note to chargesn/a
Trustee / DepositaryBank of New York Trust & Depositary Co Ltd
RegistrarCapita Financial Administrators Limited
Dividend policyJan 01 (Final), Jul 01
Peer groups
Region Asset Class Investment Focus Sector
United Kingdom Equity Mixed Targeted Absolute Return
Largest holdings, 28-Nov-2014
Holding (%) Rank Fund factsheet Equity factsheet
REGUS PLC 8.40 1 - *
PLUS500 LTD 6.70 3 - *
AO WORLD PLC 6.30 4 - *
Regional weightings, 28-Nov-2014
UK100.001 100.00% UK

All prices in Pence Sterling (GBX) unless otherwise specified. Price total return performance figures are calculated on a bid price to bid price basis (mid to mid for OEICs) with net income (dividends) reinvested. Performance figures are shown in Sterling unless otherwise specified.

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Theo Aug 20th, 2013 at 04:28 PM

Why does TN not mention performance fees?

This fund charges a performance fee of 20% of any gains over a year and there is no hurdle.

DavidStephen Aug 24th, 2013 at 05:54 PM

I've got a very large stake in this fund Theo.
I hate performance fees but with the return of this fund you have to just accept them.


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Asset allocation

Foreign Exchange, 69.30%
69.3000% ofForeign Exchange
UK Equities, 35.10%
35.1000% ofUK Equities
Corporate Bond, 0.20%
0.2000% ofCorporate Bond
UK Gilts, -100.80%
-100.8000% ofUK Gilts

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