Tuesday, 27 January 2015
Last updated 2 hours ago
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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…