Pegrum and Marriage to run new Cazenove absolute return fund

The Cazenove Absolute UK Dynamic fund will target annual returns of over 10% on a medium-term basis and will adopt a similar strategy to Pegrum's hedge fund, which he has managed since launch in May 2005. Over the three years, the hedge fund, which Marriage assists on, has achieved an annualised 15.97% net return against the FTSE All-Share Index annualised return of 1.12%. Taking an unconstrained approach, the new fund will focus on UK mid- and small-cap companies using a bottom-up approach. Synthetic shorting will be used mainly through CFDs. Holding between 30 to 50 stocks in both sh...