Optima Fund Management has established a long/short multi-manager Asia fund. The Cayman Island-dom...
Optima Fund Management has established a long/short multi-manager Asia fund.
The Cayman Island-domiciled fund invests in 12 hedge funds with around 30% of the portfolio invested in Japan, 20% in China and 15% in India.
Other countries or regions that the fund may invest in include Australia, Hong Kong, Indonesia, Malaysia, New Zealand, Pakistan, the Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand and Vietnam.
The minimum investment for the portfolio is $500,000. There is no initial charge on the fund, but the product has an annual management fee of 1.25%. A performance fee of 10% is charged over a high watermark on absolute returns of the product. Dixon Boardman, founder and chairman of Optima, said: "Given recent volatility in the markets, we believe the launch is very timely. Asia is expected to have significant growth opportunities in the future. For example, the China market is being driven by regional trade and foreign direct investment."
According to Boardman, China has grown at around 10% growth over two decades and is projected to be larger than the US economy by 2039, while India's gross domestic product grew an estimated 7.6% in 2005.
The product is available to high net worth individuals in Europe, Australia, the Gulf region and the US.
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