Shore Capital is to launch a fund of hedge funds in the first quarter to be managed by Chris Levert...
Shore Capital is to launch a fund of hedge funds in the first quarter to be managed by Chris Leverton.
Leverton joins the London-based investment banking group from Elan Asset Management where he was managing an absolute return fund of funds.
The Shore Capital product will invest in 15 to 20 hedge funds, seeking niche area strategies and putting emphasis on the quality of managers, according to Chris Ring, managing director, private client broking and investment management.
'A lot of people just look at track records but it is important to look deeper than that. You also have to look at the manager's motivation and skill set,' he said.
Shore Capital has spent the past year buying into hedge funds, with the firm's assets a base for this launch. The bulk of the company's clients are high net worth individuals looking to Shore Capital for absolute returns, according to Ring. The launch comes on the back of the Puma Property fund last year.
Puma invests in UK commercial investment property targeting investors seeking attractive returns from investment other than equities and bonds.
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