Hilltop Fund Management has launched a fund of hedge funds designed to be a rock in an investor’s portfolio.
The new All Weather Fund is an absolute return vehicle, focusing on fund selection rather than asset allocation. The Gibraltar-domiciled vehicle will include about 15 underlying managers, diversified by both geography and investment approach.
A top-down methodology “places too much emphasis on trying to predict which strategies might do well in the short term and not enough on trying to find talented managers who can perform well in all environments,” Hilltop founder and fund manager Rory Hills said.
Hills set up Hilltop In London after leaving Dexion Capital, where he was a marketing director, last year.
The fund features a three-year high-watermark and a progressive hurdle rate which can increase over time.