Late May opening for F&C fund of hedge funds

The investment trust will invest in a portfolio of 20 to 40 listed and unlisted hedge funds and have a minimum target return net of fees of 8pc. In addition to investing in underlying event-driven portfolios, managers Anthony Culligan and Francois Barthelemy will be able to expose up to 10pc of the portfolio directly to event-based positions. F&C said event driven funds were lower risk than other hedge fund strategies, based on the Tremont Hedge Fund index and Credit Suisse/Tremont Hedge Index Event Driven performance. However, according to the same indices, the event driven funds ...