Friday, 19 September 2014
Last updated 57 min ago
Feb 16 2010 | 3:40am ET
Another hedge fund is bowing to investor pressure and easing its redemption policy.
Insparo Asset Management is doing away with its two-year lockup. The firm’s multi-strategy Africa and Middle East fund will now feature a staggered one-year redemption schedule.
“While many managers have remodeled their structure to deter or prevent redemptions, we have made it easier for investors to withdraw if they wish,” Mohammed Hanif, chief investment officer, said. “We’re confident that the only true deterrent to redemptions is high returns.”
Insparo said it had not received early redemption requests. The firm has about US$165 million in assets under management.
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