Gem Advisors is to launch a capital guaranteed product at the end of February in conjunction with As...
Gem Advisors is to launch a capital guaranteed product at the end of February in conjunction with Aspect Capital.
The product is 60% invested according to the philosophy of Gem's Low Volatility fund of hedge funds, and 40% in Aspect Capital's Diversified Portfolio, a futures and commodities fund.
Miguel Abadi, director of Gem, the 15-year-old family office and investment manager that is awaiting regulatory approval and opening a London office in January, said investors will receive full participation from the outset without limits on the eight-year product's growth.
It will start with 120% leverage but this can go up to 150%. The capital guarantee is provided by SociÃ©tÃ© GÃ©nÃ©rale.
The portion based on the philosophy of Gem's Advisor's Low Volatility fund of hedge funds will have 10 to 15 underlying managers spread across M&A arbitrage, relative value and event-driven managers.
Aspect's four-year old Diversified Portfolio invests in roughly equal portions of commodities, currencies, short-term interest rates and longer-term bonds.
The $166m fund will be leveraged five times for use in the protected product. The combined product, targeting 15% annualised returns, offers weekly liquidity available in euro and dollar denominations, or sterling given sufficient demand.
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