Kenmar Preps Environmentally Friendly, Sustainable Hedge Fund Of Funds

Apr 13 2007 | 10:27am ET

Rye Brook, N.Y.-based Kenmar is prepping its Kenmar Global ECO Fund SPC Limited, a Cayman Islands-based socially responsible fund of funds, for launch on July 1. Kenmar is currently marketing its new offering to global institutional investors looking to profit from the growing market for environmentally-friendly and sustainable investing.

“There is significant global demand for this type of product, especially in Asia,” said Ken Shewer, Kenmar’s co-CEO and co-chief investment officer. “There’s a distinct move towards a merger between Wall Street and socially-responsible, environmentally-friendly, sustainable investing. There’s a significant need for the product to be launched and for investors to put money to work in this area.”

Starting tomorrow, Shewer is embarking on a two-week trip to Asia to scout managers and market his new fund to a “handful of large institutions.”

More than half of Kenmar’s existing underlying managers are outside of the U.S., and Shewer expects this trend to continue within the new offering. He said the portfolio makeup of the fund includes “some very experienced hands combined with some people who are new but have pedigrees that we’re comfortable with.” There are currently 30 underlying managers within the Kenmar Global Fund investing in the water, weather and cleantech sectors, among others.

The Kenmar Global Fund charges a 1.5% management fee and 5% performance fee, with a $5 million minimum investment requirement.

Kenmar was founded in 1983 and currently manages six other funds of funds that are open to investors and several more that are closed. The firm’s diversified Insignia fund of funds invests in foreign exchange, global resources, futures, relative value arbitrage and directional opportunistic strategies. The firm currently manages some $3.2 billion in assets.


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