ABS Unveils Emerging Markets-Only Fund

Jul 5 2012 | 11:35am ET

ABS Investment Management has launched its first exclusive emerging markets fund of hedge funds.

Emerging markets are nothing new for the 10-year old firm, which currently invests about 20% of its $3.75 billion in assets in such funds. But the new long/short equity fund is ABS' first commingled emerging markets fund of funds.

"Over the years, we saw demand from several clients asking to have a product solely focused on emerging markets," Guilherme Valle, ABS co-founder and co-manager of the new fund, alongside Alain De Coster and Laurence Russian, told Hedge Funds Review. "For over 15 years, we have been very actively researching the emerging markets space. We source managers using the network we have built across the world."

That network has resulted in a fund with 13 underlying managers, although ABS hopes to boost that total to between 15 and 25. The managers are based in Brazil, Chile, Hong Kong, Singapore, South Africa, Russia, the U.S. and the U.K. No single fund will manage more than 10% of the fund, and the fund cannot account for more than 20% of a manager's assets.

The new fund was made possible by a $25 million seed investment from a U.S. pension fund. Another $25 million is expected on Nov. 1.

The fund is domiciled in the Cayman Islands. It allows quarterly redemptions with 45 days' notice. Citco Fund Services serves as its administrator and custodian.

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