Wealth Management Firm Launches Hedge Fund, Fund Of Funds

Apr 17 2007 | 2:38pm ET

Wealth management boutique Capital Investment Group this month launched the CIG PlenaStrategy Fund, a global diversified fund of funds. The firm is currently marketing the fund of funds alongside its long/short equity fund, CIG Cam, which launched in September 2006 with $5 million in seed capital.

The CIG fund of funds will invest in 20 to 30 underlying managers with a range of strategies, including futures. The global diversified fund of funds outsources its research and analysis to Oxford Metrica, an independent strategic advisor. CIG also utilizes Oxford’s proprietary comprehensive database on hedge funds. “We felt we can bring a product to the market that has proven to provide tremendous returns with no correlation to the market, and with the combination of superb screening and analysis,” said Osman Minkara, founder.

The new offering charges a 2% management fee and 20% performance fee, with a $1 million minimum investment requirement, and is managed by Minkara.

Osman MinkaraOsman MinkaraCIG's long/short fund invests in a broad range of companies in terms of size and sector focus. “We utilize our own top-down and bottom-up strategies, and on the top-down we track 11 different economic indicators to give us an indication on a monthly basis how long or short we need to be, and then we utilize our own proprietary screening methodology,” said Minkara.

Year-to-date, the fund is up 3.12%. David Martin is the fund’s portfolio manager.

The long/short fund charges 1.5% for management and 20% for performance, with a $1 million minimum investment requirement.

CIG has been in business for 10 years and is currently managing $140 million in total assets.


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