Targeted absolute return
Absolute return, or just return, is the percentage gain (appreciation) or loss (depreciation) that an asset has achieved over a particular period of time.
And a targeted absolute return fund is one that aims to make a positive return, a fund that attempts to make money come what may.
Rather than just looking at absolute return you could look at relative return – which is where you compare the absolute return with the performance of the market (using a benchmark) or similar investments.
A targeted absolute return fund, however, uses different methods to traditional mutual funds to try to deliver positive returns regardless of the market conditions. They tend to be more popular in uncertain times as people want to limit potential losses, but the positive returns are not guaranteed.