Thames River Unveils New Shares Class, Launches Another Kingsway Fund

Jun 26 2007 | 11:15am ET

Thames River Capital is aiming to raise up to £100 million (US$199 million) by launching C shares of sterling, euro and dollar denominations in its Thames River Hedge+ vehicle. The offer will run from today through July 16.

The Thames River Hedge+ fund of funds vehicle was launched in February 2004 and invests in a portfolio of directional and non-directional hedge funds. It is a closed-ended Guernsey domiciled protected cell company listed on CISX and LSE. Since inception, the vehicle has returned 10.1% on an annualized basis and is up 9.04% year-to-date through May.

The bulk of the fund of fund’s current portfolio is in long/short strategies and its top five holdings include the Paulson Advantage Plus fund and GLG Emerging Markets fund, according to firm documents. The vehicle is managed by Ken Kinsey-Quick and Alex Kuiper.
"Our investment objective is to produce attractive absolute returns relative to the level of risk assumed through a dynamic multi-manager approach by investing in absolute return orientated funds worldwide whose managers employ a variety of investment strategies across all asset classes,” said Kinsey-Quick.

“Over the last three years we have more than met that objective and the C share issue answers on-going demand for this form of investment vehicle.” 

In other Thames River news, the firm this week is launching the Kingsway Plus Fund, which will be a mirror of its long/short single-manager fund with double exposures.

The new fund will be managed by the current Kingsway team of Tony Zucker, John Ferrario and Marco Bianchi. Since inception in March 1999, the Kingsway Fund has returned 17.1% on an annualized basis and this year is up 5.26% through May.

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