F&C has confirmed the launch of the Thames River European Absolute Return Fund for investors with a minimum investment of £10,000.

Soft-launched this week under a UCITS III regulatory structure, the fund will be managed by Randeep Grewal, who joined F&C in October 2010 from ICAP Equities where he was managing director.

Grewal has 12 years experience, with ten years at Tudor Capital, a major alternative investment manager, where he was a member of the European long/short team.

Grewal will be supported on the fund by senior portfolio manager David Moss who has been with F&C since 1996.

Grewal and Moss, who have 28 years investment experience collectively, will work with the nine-strong European equities team members.

The portfolio will take both long and short positions, driven by stock-pick orientated research while considering the longer-term economic outlook.

F&C confirmed the managers will target a return of ten per cent plus per annum net of fees through the cycle.

The fund will be a Dublin domiciled OEIC 1.75 per cent annual management charge plus a 12.5 per cent performance fee above a hurdle rate of 3-month Euribor plus 2 per cent.