Liberty Ermitage has brought out a global fund of hedge funds with some $50m raised via proprietary ...
Liberty Ermitage has brought out a global fund of hedge funds with some $50m raised via proprietary seed capital and from clients.
The group hopes that the Global Strategies Fund, which came out during January, will grow to $100m over the next few months.
Liberty Ermitage is investing the money in a mixture of arbitrage, macro, CTA and volatility-based strategies. Where the fund invests in long/short strategies, it is expected to seek out funds that have the ability to make money on their short portfolio rather than only using shorting as a protective measure.
The multi-fund product aims to achieve returns of 8% to 12% through investments in between 15 and 25 underlying managers.
The vehicle is registered in Luxembourg and is awaiting approval to list there.
Its institutional share class has a 1.5% annual management charge and carries an incentive fee. The minimum subscription in the portfolio is $100,000 and it is available in dollar, sterling, euro, Norwegian kroner and Swedish kronor.
£116.8m of benefits received by customers
Spent 13 years at JPMAM
Headed by Ben Palmer and Edward Park
Consults on regulation and innovation in green finance
13 studies begun since April 2013