Dexion Capital sets sights high

UK-based hedge fund adviser Dexion Capital is targeting top-end intermediaries with a fund of hedge fund that aims to produce annual gains of 12%-15% a year. Dexion Absolute, a £36m Guernsey registered closed-ended investment company, has issued a C share which is looking to raise £45m-£65m. The shares are London listed. The portfolio, which is fully hedged into sterling, is run by US-based hedge fund investor Harris Associates. Harris Associates has run the Aurora LP since 1988, which Dexion Absolute aims to replicate in terms of risk and reward. At present, there is an 83% overlap betw...