Thursday, 24 July 2014
Last updated 14 hours ago
Feb 6 2007 | 9:47am ET
Jersey-based Ermitage Group on Feb. 1 launched its European Multi Strategy Fund with over $30 million. The Caymans-based fund features both directional and arbitrage strategies, with allocations made to European event driven, fixed-income, equity long/short and volatility strategies, as well as commodity managers.
The fund is currently invested in 15 undisclosed managers and “aims to offer institutional investors access to a diversified source of alpha generating opportunities across Europe,” according to the firm. “With the EU expanding and maturing, European-based managers are well placed to take advantage of compelling valuations, increased M&A activity and market inefficiencies.”
The fund charges fees of 1.5/10 with a $100,000 minimum investment requirement. It is targeting annualized return of Libor plus 500 basis points and offers monthly subscriptions and redemptions with 90 days' notice required for redemptions.
Ermitage currently manages some $2.6 billion in total assets under management.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…