The fund intends to have long and short exposures to common and preferred stocks primarily in developed markets worldwide. The no-load, open-end fund will be available to retail investors (CGAVX) with a minimum initial investment of $5,000 and institutional investors (CGAIX) with an initial minimum of $1 million.
According to the announcement, the Causeway Global Absolute Return Fund seeks long-term growth of capital with low or no correlation to the MSCI World Index. Causeway will use its fundamental global value equity strategy to manage the fund’s long exposures and its quantitative investment strategy to manage the fund’s short exposures. The dollar amount of the fund’s long exposures will generally be equivalent to the dollar amount of its short exposures, by which the fund will seek to generate returns that have low or no correlation to the World Index and lower volatility than the World Index. The fund will use swap agreements to obtain exposures to long and short positions in securities, and will use leverage.
The announcement said the fund will be managed by a team comprised of Sarah Ketterer, chief executive officer of Causeway Capital Management LLC; Causeway’s president Harry Hartford; and portfolio managers James A. Doyle, Jonathan P. Eng, Kevin Durkin, Conor Muldoon, Arjun Jayaraman, and MacDuff Kuhnert.More information is at http://www.causewayfunds.com.