Lyxor is working on its third fund of hedge funds (FoHF) product for the German market, a multi-CTA ...
Lyxor is working on its third fund of hedge funds (FoHF) product for the German market, a multi-CTA German compliant fund. The marketing phase will get underway this month and, depending on the uptake, it could be launched by the end of the year.
The fund has been developed in association with a bank for the retail market, but Lyxor would not disclose further details.
It has only just launched its second German product, the equity long/short HI Asset Allocation Equity Alpha fund, originally designed for a German asset manager for its institutional investors but available for retail, institutional and high net worth individuals.
HansaInvest is acting as the manager for the fund, bringing local experience to the venture. Lyxor is the sub-manager, focusing on administrative duties such as subscriptions and redemptions, NAV calculations and other reporting. Asset Allocation is the investment advisor and distributor, picking the funds and strategies into which the FoHF will invest.
This structure is designed within the KAG framework, a secure, clear and transparent structure, according to Mathias Ranke, senior institutional relations for Germany at Lyxor Asset Management, making it attractive to institutional investors, largely late entrants into the industry. Previously, investors had access to the industry via products such as certificates, but judging by their uptake they did not have the appeal of the KAG.
In unrelated news, Lyxor Asset Management, under Alain Dubois, launched the latest of its FoHF, the Catalyst Credit Opportunity fund, in August, replicating the performance of the Catalyst Credit Opportunity fund.
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