Royal & SunAlliance International Financial Services (RSAIFS) and Royal & SunAlliance Eurolife (RSAE...
Royal & SunAlliance International Financial Services (RSAIFS) and Royal & SunAlliance Eurolife (RSAE), two leading companies within Royal & SunAlliance European Life and Investments, have added a new fund of hedge funds to their mirror fund range. The Mainstay fund was launched by both companies in conjunction with Thames River Capital.
Sarah Dillon of RSAE, said: 'We have already got a relationship with them with some existing mirror fund links so we really wanted to marry the two together and actually have a link with them through their alternative strategy funds.'
This is Royal & SunAlliance European Life and Investment's second alternative strategy fund and first with Thames River Capital. The other is the Momentum All Weather Liquidity with Momentum.
'We chose an alternative strategy fund because it is designed to perform regardless of market conditions,' said Dillon.
'Given that stock markets have been very volatile we felt we needed to expand our range with this type of fund.'
Justin Newdigate, who heads the multi-manager hedge fund team at Thames River Capital, will manage the fund. One of the founding directors of Thames River Capital, he was previously with Nedcor Investment Bank in London, and prior to that with Syfrets Asset Management in Cape Town, South Africa.
RSAIFS, based in the Isle of Man and RSAE, based in Dublin, have collaborated on the introduction of four successful long-only funds with Thames River over the last two years ' (RSAIFS) Thames River European Fund, (RSAIFS) Thames River Eastern European Fund, (RSAE) Thames River European Fund and (RSAE) Thames River High Income Fund.
The Mainstay fund combines complementary but uncorrelated investment styles each with the potential for profit whatever the direction of global stock and bond markets.
It is structured from a number of complementary strategies ' merger arbitrage, event driven, equity market neutral, convertible bond arbitrage and distressed securities.
The fund deals weekly and can be linked to any of the existing RSAIFS and RSAE products. The RSAIFS fund is available in US dollars and sterling and the RSAE in US dollars, sterling and euros.
It is based on Thames River Capital's Sentinel Fund, which has outperformed bonds, cash and equities since launch while keeping low volatility.
The fund can be accessed at the bid price through products including the Elite Investment account, International Investment account, International Portfolio Bond and Managed Portfolio account.
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