Sunday, 21 December 2014
Last updated 3 hours ago
Feb 1 2011 | 5:19am ET
Blacksquare Capital has launched a UCITS III-compliant fund of hedge funds with an obsessive eye toward uncorrelated returns and a set volatility.
The new IFSL Blacksquare Diversified Absolute Return Fund—the firm’s second after last year’s Mult-Manager Absolute Return Fund—is targeting 8% volatility and market-neutral returns. The new vehicle will not invest in any hedge fund with a correlation to high-yield bonds or stocks higher than 0.4 over a three-year period, CEO Christopher Peel told the Financial Times.
It also won’t invest in any funds that its Multi-Manager fund invests in.
“There is no overlapping in our two portfolios,” Peel said, explaining the fact as a function of the funds’ volatility targets.
The Diversified fund will put 70% of its assets in UCITS-compliant hedge funds, with the remaining in liquid securities such as exchange-trading funds, stocks and sovereign debt. All of the funds it will invest in offer daily liquidity.
Blacksquare said the new fund will not charge performance fees, but will have an load fee of up to 5%. It charges 1.5% for management.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.