Collard Capital Launches Liquid Discretionary Macro Fund

Sep 2 2010 | 10:20am ET

Collard Capital Management yesterday launched a discretionary macro fund designed to offer investors a highly-liquid approach to the strategy.

The Collard Global Macro Fund has neither gates nor side pockets, and features weekly redemptions. The Cayman Islands-domiciled fund is to be listed on the Irish Stock Exchange, with plans for a soft close at US$300 million.

Collard has entrusted the fund to portfolio managers Simon Collard and James Beaton, who have managed a private investment vehicle using the strategy for the past two years. In that time, they have enjoyed a 20.5% annualized return—well above their target of 15%—and the fund is up 3.62% this year.

Collard plans to market the vehicle to European investors, especially family offices, wealth managers and funds of hedge funds.

Apex Fund Services serves as the Collard fund’s administration and Saxo Bank as prime broker. It charges 2% for management and 20% for performance with a high-water mark. The minimum investment is US$500,000, and the fund is available in U.S. dollar, pound Sterling, euro and Swiss franc share classes.

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