ABS specialist Cambridge Place Investment Management and Talisman Global Asset Management, part of the privately owned property investor William Pears Group, have announced the launch of a new jointly managed fund. The Talisman/CPIM Fund, which has €50 million of capital committed, will invest in European real estate, CMBS, RMBS and ABS. The five-year closed-ended fund aims to generate a return of 12-15% a year by taking advantage of the dislocation in the European ABS market, according to the managers.