CAAM AI profile Through its subsidiary Crédit Agricole Asset Management Alternative Investments (CA...
CAAM AI profile
Through its subsidiary Crédit Agricole Asset Management Alternative Investments (CAAM AI), CAAM is a pioneer in the field of funds of hedge funds (FoHFs). Established in June 1992 with the launch of its first fund, Green Way Investments Limited (the same portfolio as CAAM AI's flagship Green Way Limited with a quarterly liquidity, in euro), the alternative investments business within Crédit Agricole brings 14 years of experience and audited track records to institutional investors.
As one of the top-10 funds of funds (Fofs) managers worldwide (InvestHedge, September 2006) and US$18.9bn under management, CAAM AI distinguishes itself in an increasingly crowded field by combining the advantages of a dynamic management structure and the stability of the Crédit Agricole Group. Our stable investor base and the back up from Crédit Agricole Group have enabled us to secure access to some of the most prestigious hedge funds.
More than 70 alternative investment professionals from diverse but complementary backgrounds bring expertise from previous professional activities such as trading, risk management, audit and legal. Our investment team of 24 people selects the world's best hedge funds and constructs portfolios in either pooled funds or tailor-made solutions. With offices in Paris, London, Chicago, our teams have a global coverage of the hedge fund universe.
CAAM AI has developed a real expertise in constructing low volatility and constant return portfolios. Lowering the volatility and yet maintaining attractive returns is the speciality of the portfolio construction team, which concentrates its research on correlation between strategies and differing styles of hedge funds.
Our core product range, well-known as the Green Way Funds, is based on two FoHF lines:
l Diversified Fofs invested across the entire range of alternative strategies and styles,
l Specialised Fofs invested in a single strategy or a small group of strategies, such as arbitrage, long/short equity, distressed securities, high yield bonds, macro global and systematic trading.
Green Way Corporate Opportunities fund
Green Way Corporate Opportunities fund was launched in October 2002 to benefit from a favourable environment for distressed, stressed and high-yield securities. At launch, the fund had about 80% of its allocation invested in pure distressed managers and the remaining allocation in event-driven strategies.
By the end of 2004, event driven allocation increased as opportunities shrunk for distressed investments and became more attractive for event-driven strategies. Today, the fund is broadly allocated to all corporate-related strategies. The fund has no geographical focus.
The fund provides diversification at asset allocation level because it invests in two complementary and anti-cyclical strategies. In addition, at the manager level, the low correlation level of managers within the same strategy adds to the fund's diversification.
Through its extensive experience, CAAM AI has a crucial understanding of the timing needed to maximise the results from investing in credit-driven and event-driven strategies. These strategies have been an integral part of our diversified FoHF products since 1992.Green Way Limited
Green Way Limited is a multi-strategy, multi-manager FoHF launched in March 1996. The fund's investment objective is to achieve superior long-term risk adjusted returns by investing in managers that have differing trading styles and strategies and market specialisation.
By investing across these, the investment team attempts to capture the benefits from the risk reduction associated with broad diversification while at the same time profiting from market impacting events worldwide. It aims for a high degree of diversification both at strategy and hedge fund levels and maintains low correlation with the performance of traditional asset classes.
Green Way Limited draws on the expertise that CAAM AI has acquired through 14 years of experience in managing hedge funds assets. An investment in the fund will provide investors with the opportunity to place assets with highly experienced and established managers in the area of alternative investments as well as with some emerging advisers.
All-day event on 24 April
Consequences could be more severe than in stress tests
AFH has six segregated mandate funds
Variable operating expenses