Leopold Joseph, the City-based private bank, has launched a US dollar-based multi-manager hedge fund...
Leopold Joseph, the City-based private bank, has launched a US dollar-based multi-manager hedge fund for investors who want high returns and low volatility from their investment.
In terms of UK regulation it is an unrecognised investment scheme as it is an open-ended International Business Limited Liability Company incorporated in the Bahamas.
The minimum investment in the fund is $50,000 (or foreign currency equivalent), with subsequent investment in tranches of $10,000. During its initial offering period the Leopold Joseph Multi-manager Hedge Fund raised a total of $10m.
The initial charge on the fund is 3% and the annual fee is 1.5%.
The performance fee is 15% of any capital gain in excess of 8% per annum.
The fund will invest in a range of hedge funds including long/short equity, global macro, commodity trading, event driven and relative value/arbitrage. Mark Boucher, director at Leopold Joseph said: "Most hedge funds are responsibly invested, well-managed and provide high quality, risk adjusted returns.
"We have adopted a diversified investment approach so that investors will have access to a wide range of styles and strategies in global capital markets, managed by a number of different investment houses. We have deliberately selected a wide range of funds with the aim of achieving consistent, high returns in absolute terms, no matter which way the market is moving, and with less volatility than global equity markets."
£300bn of liabilities
View from the front row
Transfer from occupational scheme
Appointed by FCA and PSR boards