Henderson Global Investors has launched a new fund of hedge funds vehicle that will invest in a range of the group's own hedge funds.
Run by Bill McQuaker, who runs the group's £600m retail multi-manager range, the Henderson Target Return fund is aimed at institutional investors, high net worth clients, private banks and family offices. The fund has a minimum investment of $100,000 (£52,000) and will look to achieve absolute returns for investors while keeping volatility to an acceptably low level.
By investing in Henderson's nine-strong range of hedge funds, three of which are closed to new investors, McQuaker is looking to gain exposure to the group's four investment styles - classic long/short directional equity, multi-strategy equity market neutral, fixed income and equity style rotational funds. Maximum exposure to any one fund in the portfolio is set at 15%
Domiciled in the Cayman Islands, the fund will be listed on the Irish Stock Exchange with US dollar, euro and sterling share classes.
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