Sunday, 23 October 2016
Last updated 1 day ago
Sep 7 2010 | 8:50am ET
London-based City Financial has launched an Asian fund of hedge funds, hiring Clontarf Capital to manage the new portfolio.
The new fund is targeted at institutional investors with an appetite for the growing region.
“Not long ago, the Asian hedge fund market was considered ‘the wild east,’ but this is simply no longer the case,” City Financial CEO Andrew Williams said. Instead, the firm sees “strong maturation” in the Asian hedge fund market.
The Asian Absolute Growth Fund will be managed by Clontarf founder Aoifinn Devitt. It will include 10 high-conviction underlying managers and target annual returns of 15%.
The new fund will charge a 10% performance fee and 1.25% management fee, with larger investors getting a break on both. Such investors will only pay the performance fee on returns exceeding 10%, and will pay a management fee of 0.8%.