UK investors can now access some of the most well-known US hedge-fund specialists through SGAM Alternative Investments (SGAM AI).
The group has received authorisation to launch a new UCTIS III fund in the UK,France, Italy, Portugal, the Netherlands and Spain. The new fund, called SGAM AI Equity Fund, is domiciled in Luxembourg and is a SICAV umbrella containing three sub-funds.
The fund will invest in US hedge-funds with long-only and long-biased strategies and SGAM AI has chosen different approaches for each sub-fund.
The first sub-fund is managed by Caxton Associates and will employ a bottom-up, research-driven management style. Highbridge Capital Management will manage the Highbridge Statistically Enhanced Equity Portfolio (STEEP), which will employ a purely quantitative style of management based on Statistical Arbitrage models. The other fund manager involved is Renaissance Technologies, which will manage a fund utilising mathematical and statistical methods to maximise returns. SGAM AI intends to launch further sub-funds in the near future.
The minimum investment threshold for SGAM AI Equity Fund is much lower than is normally the case for hedge-fund strategies, with a minimum subscription of just £1000. The fund also offers mutual fund-like characteristics such as daily liquidity, multi-currency share classes and accessibility.
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