UK-based Kleinwort Benson has launched two new multi-asset absolute return funds designed to minimise risk whilst delivering long term perfo...

UK-based Kleinwort Benson has launched two new multi-asset absolute return funds designed to minimise risk whilst delivering long term performance relative to a cash-based benchmark. The CF KB Endeavour Absolute Return Fund and CF KB Endeavour Balanced Total Return Fund combine traditional asset classes such as bonds and equities with alternative assets such as real estate, commodities, hedge funds and private equity. The new onshore funds are based on successful offshore models: the KB Elite Absolute Return Fund and KB Elite Balanced Total Return Fund, both aimed at sophisticated investors, which were launched in August 2005 and have built a strong one-year track record. The CF KB Endeavour Absolute Return Fund aims to deliver long-term returns of two percentage points above Libor annually, while the expected volatility resembles a short-to-medium-term gilt. The CF KB Endeavour Balanced Total Return Fund seeks to generate long-term annual returns of four percentage points above Libor, with expected volatility level of a medium-to-long-term gilt.