Permal Group is to launch a Silk Road fund, an emerging markets fund of hedge funds, which focuses on many of the markets that made-up the ancient Silk Road.
Permal Silk Road covers a wide geographical area and includes the Middle East and Northern Africa, Asia (excluding Japan), Commonwealth of Independent States, and Turkey. Target markets include those that have experienced recent rapid economic development, through petrodollars, hydrocarbons, consumer goods and technologies. The fund will invest in a minimum of 20 underlying fund managers, with allocations to event driven, equity long/short, equity long-only, macro and fixed income strategies. It is registered in the British Virgin Islands and will be launched on 30 November, in partnership...
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