Friday, 1 August 2014
Last updated 15 hours ago
Mar 20 2007 | 12:22pm ET
JP Morgan this month launched a fund hedge of funds dubbed the Londinium JPM Emerging Fund, and has appointed Redi & Partners as the vehicle’s investment advisor.
Redi has selected 19 underlying funds with initial allocations to each fund limited to 5% of the portfolio’s assets, according to fund documents. Allocations have been made to funds focused on BRIC countries employing long/short, event-driven, fixed-income, global-macro, and debt-related strategies.
Some underlying managers within the portfolio include Thames River, Ashmore Investment Management and Gartmore Investment Management.
Since emerging markets are more susceptible to sudden market changes, 5% of the fund’ portfolio is held in cash and 45% is invested in managed accounts to offer investors a “unique level of liquidity,” according to JP Morgan. “Thus 45% of the portfolio could be used to quickly implement hedging transactions in case of adverse changes [to] market conditions,” the firm said.
The new multi-strategy emerging market offering charges fees of 1% for management and 10% for performance. BNP Paribas Fund Services is the administrator for the fund.
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…