Erste Readies First UCITS Fund Of Funds

Nov 12 2010 | 2:16am ET

Austria’s Erste Group Bank is jumping on the UCITS III bandwagon with a new fund of hedge funds set for launch next year.

Erste’s ESPA Alternative Diversified Fund will debut in January, HFMWeek reports. It will be the Vienna-based firm’s first UCITS-compliant offering; the firm currently manages some US$650 million in multi-strategy funds of funds.

The new fund will be seeded with €50 million by the firm, although Erste expects it to be managing outside money—primarily from local Austrian investors—when it launches. It will be managed by Mark Cachia and the rest of Erste’s alternative investments group, and will include between 15 and 20 underlying managers.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR