Allianz Alternative Asset Investment is set to launch its new fund of hedge funds investment company, Peletier Absolute Limited.
Domiciled in Guernsey, Peletier will be a multi-strategy, diversified fund of hedge funds which will aim to deliver absolute returns coupled with low volatility. It will typically invest in 40-50 hedge funds.
The placing and offer for subscription, are likely to open on or around 4 July and close approximately 15 July.
RCM, the specialist equity manager within the Allianz group, will manage the fund. Allianz Alternative Asset Management will advise the new fund and subscribe to £25m of Peletier shares.
Jean-François Vert heads up the Allianz Alternative Asset Management team, which solely manages fund of hedge funds.
Peletier will adopt the same investment objective and strategies of the exiting $1.5bn KGH Lincorne Fund, also advised by Allianz Alternative Asset Management. The Lincorne fund has achieved 11.7% annualised returns since 1998.
Simon White, head of investment trusts at RCM, says: “Continued turbulence in global financial markets and rising inflation means that investors and their advisers are looking more than ever to increase exposure to investment funds that offer the prospect of long term capital appreciation, low volatility and low correlation to equity and bond markets.”
Peletier will have daily liquidity through trading on the London Stock Exchange. It will have a flexible structure providing sterling, euro, US dollar share classes and quarterly switching.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till