Barclay's Global Investors has launched a market neutral fund aimed at family offices, hedge fund of...
Barclay's Global Investors has launched a market neutral fund aimed at family offices, hedge fund of fund providers and institutions.
The European Equity Market Neutral Fund is the second market neutral strategy to be launched by BGI Europe and follows the UK Equity Market Neutral Fund.
The fund will be managed using the same investment process as BGI's European long-only strategy based on an investment philosophy that manages risk, cost and return equally, according to the firm.
Registered in Dublin and authorised by the Central Bank of Ireland, the European Equity Market Neutral Fund aims to deliver a return, after fees, of 10% per year above three-month Libid, maintain a volatility of 10% a year, relative to the benchmark of MSCI Europe and FTA Developed Europe (ex-UK, ex-Greece) and produce absolute returns that are independent of movements in the European market.
Mark Fitzgerald, director of hedge fund products, said: 'We had considerable success with our UK Equity Market Neutral Fund, which has produced excellent performance while maintaining volatility within its targeted range and is one of the best performing funds for the given level of risk.
'So far, during pre-marketing of the European fund, there has been a significant appetite from existing clients in the UK fund as well as new clients, who missed the opportunity to invest in the UK fund prior to its closure.'
The fund is available in dollar and euro share classes for a minimum investment of E250,000.
The fund will limit exposure to individual stocks through portfolio diversification, holding around 350 stocks from a universe of 500.
Investors can purchase or redeem every Wednesday, or on the first trading day of each month.
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