Friday, 22 May 2015
Last updated 1 hour ago
Nov 30 2010 | 7:49am ET
Swiss private wealth manager Palaedino Asset Management is launching the first investable UCITS alternative index—the Axiom UCITS Alternative Investable Index Fund.
The Geneva-based company, an arm of the Palaedino Group, is launching the fund in conjunction with Alix Capital—another Palaedino Group offshoot, and, as of December 1, 2010, the provider of the UCITS Alternative Index.
The Axiom Fund is a UCITS III SICAV registered in Luxemburg that aims to replicate the UCITS Alternative Blue Chip Index. The fund will offer weekly liquidity.
The UCITS Alternative Index is intended to give a fair representation of the UCITS absolute return performance. It includes the 50 top, equally weighted UCITS hedge funds.
Although currently reserved for institutional clients, the Axiom Fund will be registered in a number of European countries making it accessible to the general public.
Alessandro Mauceri, CEO of Palaedino Asset Management, said: ”I strongly believe that UCITS alternative funds are not hype but are here to stay—especially in the aftermath of the 2008 problems encountered by offshore hedge funds, such as gates, side pockets and suspension. When investing in hedge funds, investors now demand the same level of protection as that offered by onshore regulated funds.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…