Insight Investment has announced that its Absolute Insight UK Equity Market Neutral Fund, a fund of Absolute Insight Funds p.l.c. is now live on Cofunds, the UK 's largest independent investment platform.

Absolute Insight’s UK Equity Market Neutral Fund aims to generate positive absolute returns in all market conditions. The portfolio managers seek to achieve this objective by minimising unwanted market related risks and isolating stock-specific opportunities, using the wider investment powers permitted under UCITS III regulations to invest both long and short in UK equities, while maintaining a neutral market exposure.   

Insight’s fund managers follow a research-led investment process based on detailed fundamental analysis and regular contact with company management in order to generate alpha and are able to draw on the expertise of a dedicated team of UK equity research analysts.

Gordon Phillips, head of business development, Insight Investment, commented: “Making this Fund available through Cofunds marks an important step forward in our distribution strategy for our new generation of absolute return products. Even against such challenging market conditions, the Absolute Insight UK Equity Market Neutral Fund has performed well since inception producing consistent returns with exceptionally low volatility. Retail investors who do not like unpredictable investment terrain now have even better access to the Fund’s potential for equity-like returns, without the bumpy ride.”

Andy Cawker, co-manager, Absolute Insight UK Equity Market Neutral Fund said: “The Absolute Insight UK Equity Market Neutral Fund has delivered positive returns and has    outperformed the FTSE 100, Government bonds, property and cash performance over the last three years. The net result – which we attribute to our team-based approach, coupled with our rigorously market neutral investment strategy – is that the Fund has delivered consistent positive returns with a fraction of the volatility of the equity market. We’re delighted retail investors can now access the Fund’s performance benefits through Cofunds.”

Russell Lancaster, Cofunds Director of Fund Manager Relations, commented: “We have seen a considerable increase in advisers’ interest in absolute return funds in the last six months as the better products have built up their track records. Insight has already built up a following on Cofunds for its Diversified Target Return Fund, so we would anticipate that this fund should prove a popular choice.”

Established in 2001, Cofunds specialises in servicing the intermediary market, offering access to over 1,000 funds from more than 70 fund managers. Portfolios can be constructed and managed in one place by accessing an extensive fund range and web based portfolio analysis and construction tools using the Cofunds website.

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For further information please contact:

Insight Investment press office         Tel: 020 7321 1358  

About Absolute Insight UK Equity Market Neutral Fund

The investment objective of the Fund is to seek to provide attractive, positive absolute returns in all market conditions.

The Fund’s overall policy consists of two distinct elements:

1. The Fund aims to generate long-term capital growth, primarily from investing in a range of equity and equity-related securities of UK companies and derivatives.
2. The Fund will maintain a portfolio of liquid or near cash assets.  

The manager will seek to meet the investment objective through minimising the market related risks usually associated with investing in UK equities (‘beta’), whilst isolating the stock specific returns, (‘alpha’) primarily by use of a technique called “pairing”. This involves long/short (synthetic) trading. Derivatives will be used for achieving both long and short positions (including but not limited to contracts for differences, equity index, equity sector and single equity swaps) relating to UK equity market indices, e.g. FTSE 350 Index, sectors, stocks and baskets of stocks.

The minimum investment via Cofunds is £1,000.  

Performance

Absolute Insight UK Equity Market Neutral Dublin Fund

As of 30/06/2008

These returns refer to the Absolute Insight UK Equity Market Neutral Dublin fund and all returns are shown gross of fees. The inception date for the Absolute Insight UK Equity Market Neutral Dublin fund and index returns is 28/02/2007.

Source: Insight Investment, Citco, Performa, Rimes, Bloomberg, IPD.
Currency: GBP
The benchmark for this portfolio is the 3 Month Sterling LIBID.

Notes to editors
Past performance is not a guide to future performance. The value of investments and any income from them can go down as well as up. You may not get back the amount invested.

For press purposes only. Not to be distributed to private customers.

Insight Investment Funds Management Limited is the Authorised Corporate Director of the Insight Investment range of UK funds. Registered in England and Wales. Registered office 33 Old Broad Street, London EC2N 1HZ. Registered no. 1835691. Authorised and regulated by the Financial Services Authority.

Insight Investment manages funds for institutional and retail clients across a range of asset types including equities, bonds, derivatives and alternatives, with the aim of providing precise investment solutions for investment needs. Insight’s assets under management totalled £112 billion as at 30 June 2008.
www.insightinvestment.com