Erste Bank Launches Asian Fund of Hedge Funds

Jun 4 2007 | 10:10am ET

This month, Erste Bank Alternative Investments added to its MAX suite of emerging markets funds of hedge funds with the launch of MAX Asia. The Caymans-based fund of funds was initially seeded with $35 million.

MAX Asia is a carve out of the firm’s global MAX Emerging Markets Alpha Fund, a global fund of funds launched last October. The new fund of funds “gives investors the opportunity to gain Asia dedicated exposure in a diversified, multiple asset class portfolio,” according to the firm. Guy Wengraf is the portfolio manager for MAX Asia.

MAX Asia charge a management fee of 1% and a performance fee of 10%. It has a one-year lock up period with 65 days redemption notice.

The launch of MAX Asia follows on then heels of the March launch of MAX Central and Eastern Europe Alpha, which focuses on Erste Bank's home market of Central and Eastern Europe.

Vienna-based Erste is headed by Christoph Kampitsch and manages $1.8 billion in hedge funds across 11 products.


In Depth

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Ex-Hedge Fund Billionaire Won’t Run For Senate

Jan 23 2015 | 5:48am ET

Ex-hedge fund manager Tom Steyer will not run for Senate after Sen. Barbara Boxer...

Guest Contributor

From Switzerland With Love: Some Hard Truths About Central Banks And Risk

Jan 23 2015 | 7:54am ET

In the wake of the Swiss National Bank uncoupling the country’s currency from...

 

Editor's Note