Bloxham Wealth, the Irish stockbroker and wealth manager, has launched a global growth fund using “state-of-the-art” technology to select and secure the best international stock opportunities and enhance returns.

The Midas Global Absolute Return Fund will use technology that allows a comprehensive overnight search of over 2,000 stocks and sectors globally, identifying over-bought and over-sold opportunities.

The Dublin-based firm’s fund targets UK investors and will be euro-based, having a performance objective of 6-8 per cent per annum. It will use a variety of indicators and have a stop loss strategy and downside protection. The firm said the technology has been stress tested and believes it is built for the worst market conditions.

“The technology... was initially built to combat the worst market conditions evidenced post Lehmann Brothers collapse,” said Kevin McConnell, fund manager and Bloxham director.

The technology also reportedly has the ability to detect emerging trends ahead of more traditional techniques, the firm said.

“As an investment vehicle, our absolute return fund will endeavour to make positive returns by employing our unique investment management techniques, along with more formally established investment techniques include using short selling, futures, options, derivatives, arbitrage, leverage and unconventional assets,” he continued.

“The fund will, we believe, perform better than straightforward equity or bond funds when markets are falling, with plenty of scope for manoeuvre in rising markets,” said McConnell.

Bloxham provides stock-broking and wealth management services for private and institutional clients. Bloxham's wealth management division was established in 2002 and has assets over €813.5 million (around $1 billion), as at March 2010.