Old Mutual Prosper 80 on target

The Old Mutual Prosper 80 fund has beaten its target rate by 1.2 points, producing a return of 5.2 per cent.

Launched in April, the fund was initially £22 million of internal seed capital, which has now grown in excess of £40 million following its opening to external investors in September.

Richard Tomlinson, joint manager of the Old Mutual Prospoer 80 fund, praised the performance of the fund.

He said this had been achieved with "low absolute volatility and significantly lower volatility than equity and bond markets over the same period".

Overall the volatility of the Old Mutual Prosper 80 fund stood at 2.6 per cent when averaged over the year.

Mr Tomlinson concluded by saying that the positive achievements were a result of the diversified and absolute return investment approach implemented by the fund.