Friday, 27 May 2016
Last updated 7 min ago
Feb 2 2007 | 12:39pm ET
Swiss-based Harcourt Investment Consulting AG recently launched Belmont Latin America, a fund of hedge funds fully dedicated investing in Latin America. The Cayman Islands-domiciled vehicle, which debuted in October 2006, finished its first three months up 3.09%.
The product is currently investing in 10 underlying hedge funds, with the portfolio expected to grow to up to 20 funds in the near future. The strategies pursued by the underlying funds include long/short equity, emerging markets debt, event-driven, fixed-income arbitrage and macro, as well as asset based lending. The portfolio funds are domiciled both within and outside of Latin American countries.
The fund of funds is looking to achieve a targeted annualized return of Libor +700 basis points, net of fees, with annualized volatility in the range of 6% to 8%.
The fund charges a 1.5% management fee and 10% performance fee, with a minimum investment requirement of $100,000.