UBP Launches Event Driven, Non-Directional Funds of Funds

Jul 9 2007 | 12:20pm ET

New York-based UBP Asset Management last month launched two new funds of funds in response to investor demand.

The Selectinvest Event Driven offering invests in event-driven managers and will allocate capital to debt, equity and multi-strategy funds at opportunistic times throughout the investment cycle, according to the firm. The Selectinvest Alternative Balanced Fund will invest in predominantly non-directional hedge funds and is designed to offer institutional investors a beta-neutral vehicle to be used either as a stand alone, core alternative investment or part of a portable alpha program.

Both vehicles will initially invest in between 25 and 30 managers.

“A tremendous amount of liquidity, both in public and private markets, continues to boost corporate activity globally, presenting a consistent stream of opportunities to event driven specialists,” said Roman Igolnikov, managing partner and head of investments at UBPAM.

“Our new non-directional strategy is also well positioned, as non-directional themes are currently at the very beginning of a transition, when increasing volatility in the markets will reinvigorate arbitrage and relative value investment opportunities that have been suppressed for some time.”

UBPAM is an affiliate of Union Bancaire Privée, the Swiss-based private bank, and focuses on the management of funds of funds and customized portfolios consisting of hedge funds, portable alpha products and private equity.  UBPAM manages the Selectinvest Funds, which are a diversified set of fund-of-funds with over $12 billion of assets under management.


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