UK-based fund manager Henderson is to launch an internal fund of hedge funds aimed at high net worth clients, private banks and family offic...

UK-based fund manager Henderson is to launch an internal fund of hedge funds aimed at high net worth clients, private banks and family offices as well as institutional investors.

The Henderson Total Return fund will launch on 1 September and be managed by Bill McQuaker, director of multi-manager funds at Henderson. It will target a return of 12-15 per cent with "acceptably low" volatility.

The minimum investment in the Cayman Islands-domiciled fund will be $100,000. It will be listed on the Irish Stock Exchange.