London-based Neptune Investment Management will launch the Neptune Global Long/Short Sector Fund at the start of next month.

Each of the global industry classification standard sectors will be represented by a basket of 20-50 large and liquid stocks that are correlated with global sector indices. The exposure of the new fund to each sector basket will be determined by the positions of Neptune’s in-house global sector matrix and its long-only global equity fund sector weightings. The aim is to have an average exposure of 15 per cent to emerging markets in each sector to reflect the global GDP balance.

“This product is a transparent UCITS fund that purely uses the wider powers to go long or short on sectors. We already set targets for sector exposure as part of our core research. Now, however, we have the ability to take these target positions and use them to set long/short targets, rather than overweight/underweight,” said fund co-manager Ted Alexander.