ED&F Man Investment Products is launching a new global futures fund to add to its 11 other global fut...
The launch period for the Global Futures Fund XII Diversified Limited is to run from 28 February to 14 June.
As with the Global Futures Fund XI before it, the new fund is a multi-strategy fund that invests 60% of its assets in AHL Diversified Trading Program, a systematic trend following programme.
The balance of the assets will be invested in two other systematic non-trend following programmes, the names of which are not being revealed.
The twin fund, Global Futures Fund XI, began trading on 2 December 1999 and is down -1.4% since inception. The other Global Futures funds have annualised returns ranging from 8.7% to 23%. The target return for this new fund is in the 18%-20% range.
There is a 6% front-end fee, a 3% management fee and a 20% performance fee.
The Global Futures funds XII Diversified fund has a life of 10 years, at the end of which there is a guarantee that the initial capital will be repaid in full plus any performance from the underlying programs. The guarantee is provided by Chase Manhattan Bank.
The fund is registered in Bermuda and distributed in Germany by FutureTeam GmbH, the exclusive distributor of Global Futures Funds in Germany since 1993.
Stefan Triebe of FutureTeam said: "Many investors, including those within the institutional sector, will be looking for possibilities of diversifying their portfolios."
ED&F Man currently manages DM900 million for Global Futures Funds I to XI.
l It has been announced that the commodities trading arm of ED&F Man is to be taken private by its own management for the sum of £587m.
Targeting intermediary market
Represents £8trn in assets
Simplify and modernise
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