Dublin-based Bloxham has launched the Midas Global Absolute Return Fund, a euro-based fund targeting UK investors.

The low/medium risk fund uses Bloxham’s Midas system, which makes an overnight search of over 2,000 stocks and sectors globally.

The system identifies technically overbought and undersold opportunities and detects emerging trends, well ahead of more traditional techniques.

Kevin McConnell, fund manager and Bloxham director, says: “The technology has been ‘stress tested’ and was initially built to combat the worst market conditions evidenced post Lehmann Brothers collapse.

“The fund uses a variety of indicators and unbiased decision making to determine what to invest in and this ensures the fund is effectively a relatively low risk investment.”

McConnell says the fund should have steady growth of around six to eight per cent per annum.