The Edinburgh-based solicitor and asset manager said the fund, which will invest in derivatives and hedge fund structures, was aimed at investors with cash to invest but wary of being exposed to market risks. It adds to the firm's existing Balanced and Income funds.
Absolute return funds promise positive returns in all markets and sales have soared over the past two years. But the jury remains out on their ability to deliver, with several funds delivering losses.
Haig Bathgate, chief investment officer at Turcan Connell, said: "The objective of the absolute return fund is to produce positive long-term returns, targeting a range of 6 to 8 per cent a year irrespective of the underlying stock market conditions.
"We feel that this type of fund is likely to be particularly attractive in the current climate of inflation coupled with extremely low interest rates."