PineBridge launches low-cost absolute return fund

Cutting costsPineBridge Investments has launched an active fund that is priced within the limit set for certain UK defined contribution (DC) pension schemes.

The UK introduced a 0.75% cap in April for default funds used in auto-enrollment DC schemes.

PineBridge’s Global Dynamic Markets Allocation Fund aims to deliver absolute returns with lower volatility due to downside risk management, especially during times of market stress.

The fund is part of the Ireland-domiciled PineBridge Global Funds umbrella, which provides multi-asset class investments within a Ucits-compliant vehicle.

PineBridge has $77.7 billion (€69.6 billion) in assets under management, as of June 30 this year.

Michael Kelly, managing director and global head of multi-asset at the firm, says: “The launch of the fund offers UK-domiciled DC investors the opportunity to access an actively managed and diversified strategy whilst also complying with the expense cap.”

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