Absolute Return  Funds

In its original meaning , an absolute return fund was an investment fund which did not benchmark its performance against an index, but sought to make  as high as possible a positive return.  However it is now taken to be a fund which seeks to outperform cash, and  sets a target against libor or euribor.   According to FT’s weekly review of the fund management industry (25.6.07) none of the European absolute return funds rated by Standard and Poors managed to hit its target after fees during 2006. 

Maybe the best way to look at them is as a low risk way of getting a return slightly better than cash.   If you want equity type returns, then  maybe you have to invest in equities.

http://www.investorprofit.com/stocks/stocks-25.html