Barclays to focus on top 500 stocks in Europe ex-UK

Barclays Global Investors has launched a market-neutral hedge fund focusing on the largest 500 stocks in developed Europe excluding the UK. It aims to return investors 10% annually above three-month Libid, after fees on a volatility of 10% a year.Jonathan Lamb, senior portfolio manager for market neutral strategies at BGI, said the portfolio would hold 300-400 positions and up to 3% in any one stock, with position sizes dependent on stocks' liquidity. The fund will invest in developed countr