Brooks Macdonald moves Defensive Capital fund to absolute return sector

The firm, the fund management arm of Brooks Macdonald Group, said the £211m fund has moved from the IA Mixed Investment 20%-60% Shares sector into a sector that "more accurately" reflected its risk/return profile. It hopes the change, which took effect from 21 March, will position the fund as an alternative to some of the larger well-known absolute return rivals in the sector. Meanwhile, the fund's investment objective has also changed to include a requirement to achieve "positive absolute returns over rolling three year periods", in order to meet the demand of its new sector. Targ...