ABN AMRO Asset Management has launched a series of low-minimum euro-based products covering a range of asset classes including two new bond portfolios, a fund of hedge funds and a high-income equity fund.
The two new bond funds include a government as well as a credit portfolio. The fund of hedge funds focuses on Asian portfolios, while the high-income equity invests globally.
The ABN AMRO Euro Government Bond Fund invests in high quality government bonds with an active duration and yield curve policy issued by EMU member states.
The investment approach examines how interest rate and yield curve cycles are driven by changes in macro-economic, valuation and sentiment factors that are internationally correlated. Bert van den Berg is portfolio manager of the product.
The ABN AMRO Euro Credit Bond Fund invests in investment grade corporate bonds. Frank Achterstraat is portfolio manager of the product. Both funds are domiciled in Luxembourg, with a minimum investment of E250.
ABN AMRO Asia Pacific Multi Strategy Fund is a fund of hedge funds that focuses on the Asia Pacific region. The fund was launched because of the dramatic economic resurgence in the Asia Pacific region. It is to consist of a portfolio of between 15 to 25 Asia/Pacific hedge funds.
Rory Mason, vice-president global product development at ABN AMRO, said: "The fund is diversified over all four main hedge fund strategies; relative value; credit driven; equity hedge; and global macro. We have visited well over half the universe of Asian Pacific hedge funds currently estimated at 350 hedge funds."
The fund is available to HNW investors with a minimum investment size of E10,000 or $10,000. It is sold n private placement basis, in line with local regulations in Hong Kong, Taiwan, Singapore, China, the Middle East, Scandinavia, Switzerland, Belgium, Italy, Spain and the Netherlands.
The management fee is 1.50%, and the performance fee is 15% with a one-month Euribor/Libor hurdle rate and lifetime high water mark.
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