Sunday, 19 April 2015
Last updated 5 hours ago
Jun 26 2007 | 10:28am ET
Madrid-based Altex Partners this week is launching the Altex Bajo Riesgo fund, a global multi-strategy fund of funds. The new offering is targeting retail Spanish investors.
Carlos Dexeus, Altex’s managing partner, said the fund of funds’ appeals to retail investors because of is its low volatility and lack of correlation to the equities market.
“There will be very few long/shorts, if any, so it will be mainly relative value,” he said. “It will be managers trading a particular arbitrage, which is providing a lot of alpha, or funds with very low volatility. A lot of American managers will be in the portfolio and not too many emerging managers because they tend to be too correlated for this particular strategy.”
Dexeus anticipates a portfolio in excess of 15 managers “once the fund is in maturity.”
For tax purposes, the offering will start trading with only €300,000 before opening the floodgates for additional capital the following month, according to Dexeus.
Altex Bajo Riesgo charges a management fee of 1.75% with a minimum investment requirement of €1,000.
Dexeus previously served as a former co-head of the investment banking division of Barclays in Europe before founding Altex in 2003. The firm currently manages
US$200 million in total assets in two funds of hedge funds, as well as separate accounts and structured products.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…