Lang and Pattison to launch trio of absolute return funds

William Pattison and Jeremy Lang (pictured) are to launch a trio of absolute return funds as part of their new firm Ardevora Asset Management.

The duo, which has been working together since 1986, quit Liontrust at the start of last year to set up their boutique.  

They will launch UK income and growth funds, in addition to a global absolute return portfolio.

Lang and Pattison said: 'The funds we are hoping to launch later this year will be focused on absolute returns and long/short in their structure (but with a natural long bias). All three funds will be conservative in nature and designed to achieve a realistic return above inflation, with low volatility.'

The duo is applying to the FSA for a licence to formally launch Ardevora. They are also applying to the Irish financial regulator to launch and distribute the trio of Ucits funds.